DirecTV is acquiring Dish Network, creating by far the largest U.S. pay-TV operator. The two satellite companies, which have struggled in recent years due to cord-cutting and their innate inability to offer broadband services, have discussed coming together several times over the years. DirecTV said the deal, which is structured as a debt exchange with Dish parent EchoStar, will yield $1 billion in annual cost savings. The combined firm will have more than 19 million subscribers, or about one-quarter of the total U.S. market.