The deal, which would have created one of the largest pay-TV providers in the United States, fell apart after strong objections from Dish’s lenders.

DirecTV on Thursday formally announced that it was nixing the agreement with EchoStar to buy Dish Network. The deal is being terminated effective as of 11:59 p.m. ET on Nov. 22, DirecTV said.

DirecTV has notified EchoStar Corp. of its intention to terminate an acquisition of Dish Network Corp. after it failed to win the consent of bondholders for a key debt exchange, all but killing a deal to create the largest U.S. pay-TV service.