EchoStar Buys Sling Media

EchoStar Communications Corporation announced earlier this week that it has agreed to acquire Sling Media, a privately-held digital lifestyle products company that enhances existing products and standards with hardware and software that make divergent technologies compatible.

The deal values the Foster City, California-based Sling Media at approximately $380 million in cash and EchoStar stock options. CEO and co-founder Blake Krikorian said:

By combining strategies, resources and technologies with EchoStar, Sling Media will be able to rapidly expand our open multi-platform product offerings, not only for DISH Network subscribers, but for digital media enthusiasts around the globe.

EchoStar was an early investor in Sling and has indicated that it will not interfere with the company’s business. Charlie Ergen, CEO and co-founder of EchoStar said in the announcement:

As an early investor in Sling Media, EchoStar has been pleased with the progress and commitment the company has made establishing Sling Media and the Slingbox as powerful and beloved digital media brands. With today’s increasingly mobile lifestyle, EchoStar’s acquisition of Sling Media will allow us to offer innovative and convenient ways for our customers to enjoy their programming on more displays and locations, including TVs, computers and mobile phones, both inside and outside of the home. This combination paves the way for the development of a host of new innovative products and services for our subscribers, new digital media consumers and strategic partners.

Analysts suggest that the Sling Media acquisition may help DISH Network differentiate its product from satellite and cable TV rivals. Sling Media’s first product, the Slingbox, turns any internet-connected computer or mobile device into your home television, allowing you to watch TV virtually anywhere in the world.

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Written by Jim Taylor on September 27th, 2007 with no comments.
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