DirecTV announced it is acquiring Dish Network, ending decades of merger talks. Both companies have struggled to compete with streaming services like Netflix and Hulu, as cord-cutting trends continue.

Under the deal, DirecTV will assume Dish’s debt and pay its owner, EchoStar, just $1.

Private equity firm TPG will also buy AT&T’s remaining 70% stake in DirecTV.

The combined entity will have about 20 million subscribers, significantly lower than DirecTV’s 2015 peak, CNN has reported.

The merger aims to reduce costs and better compete with streaming giants, pending approval from Dish’s bondholders.

Written by B.C. Begley