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EchoStar Agrees to Acquire Sling Media
Associated Press
September 25, 2007 11:36 a.m.
ENGLEWOOD, Colo. -- Satellite television provider EchoStar Communications Corp. has agreed to acquire Sling Media Inc. in a cash and options deal that values the provider of Slingbox at $380 million.
Sling Media, based in Foster City, Calif., makes devices that lets consumers send content from their TVs over the Internet to desktop computers, laptops or cellphones.
"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," EchoStar CEO Charlie Ergen said in a written statement.
Sling Media CEO Blake Krikorian said the deal would help Sling Media expand.
"We are psyched to make this announcement," Mr. Krikorian said. "We have worked closely with EchoStar for more than two years, and have come to realize that both companies have similar entrepreneurial cultures and mutual dedication and passion for creating empowering experiences that benefit the consumer and the media industry."
Copyright © 2007 Associated Press
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