EchoStar buys Sling Media

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NEW YORK -- EchoStar Communications has agreed to acquire Sling Media Inc. in a deal that values the digital up-and-comer at approximately $380 million in cash and EchoStar stock options.

EchoStar has already been an investor in Sling for more than two years.

The deal is expected to close in the fourth quarter.

Foster City, Calif.-based Sling is privately held and was established in 2004. Its Slingbox and other products have made content more portable. Its Clip+Sling offering, for example. enables users to clip and share segments of TV content.

"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," said EchoStar CEO Charlie Ergen. "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."

Blake Krikorian, co-founder, chairman and CEO of Sling, said: "By combining strategies, resources and technologies with EchoStar, Sling Media will be able to rapidly expand our open multiplatform product offerings."
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