After over a decade of on and off talks, a merger between DirecTV and Dish is poised to become a reality. The deal announced on Monday for the former to acquire the latter for $1 and $9.75 billion in debt will form the largest pay TV operator with around 18 million subscribers -- leapfrogging past Charter Communications and Comcast -- as it looks to stem satellite TV's bleeding from cord-cutting.

DirecTV is buying Dish and Sling for $1 and the assumption of nearly $10 billion in debt, marking one of the biggest pay-TV mergers ever.

DirecTV and Dish have agreed to merge. The combination will create the biggest traditional pay-TV service at a time when streaming dominates.