Satellite TV DirecTV has called off its merger with rival Dish Network. The two satellite broadcasters have previously pushed for and pulled out of mergers.

DirecTV said it notified Dish's parent company, EchoStar, that it was pulling out of the deal. The move puts an end to the satellite broadcasters' plans to merge to increase their size and reduce the cost of programming to compete with streaming services.

The decision comes after bondholders, who hold about $10.7 billion in debt, raised alarms about Dish and its subsidiary DBS. The deal required prior approval from creditors. In September, DirecTV agreed to acquire Dish for just $1, assuming debt from EchoStar. But last week, after failing to secure concessions from major creditors, there was talk of the deal falling apart.