Creditors to US satellite television firm Dish Network plan to block a distressed exchange that’s a key part of its tie-up with rival DirecTV, according to people familiar with the matter.

The deal, which is subject to regulatory approval, would create one of the largest pay-TV distributors in the U.S. The companies were blocked in an attempt to merge in 2002.

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's agreement to buy the Dish satellite and streaming TV business from EchoStar is facing opposition from Dish creditors who would be forced to take a loss on the value of their debt. Dish creditors "plan to block a distressed exchange that's a key part of its tie-up with rival DirecTV,

In this era of cord cutting the announced merger of DirecTV with Dish/Sling would result in 18 million subscribers, making it the largest pay-TV distributor