EchoStar Communications Corporation (NASDAQ: DISH) announced today that it has agreed to acquire Sling Media, Inc., a privately-held digital lifestyle products company.
EchoStar, through its DISH Network?, is the third largest pay-TV provider in the United States. The transaction values Sling Media at approximately $380 million and is payable in cash and EchoStar options. The transaction is subject to customary closing conditions, and is expected to close in the fourth quarter of 2007.
Established in 2004, Sling Media has been a leading innovator in the digital lifestyle space through the introduction of the internationally-acclaimed, Emmy award-winning Slingbox and SlingPlayer software. Sling Media?s product line is distributed in over 5,000 retail stores in 11 countries.
In 2006, Sling Media created the Sling Entertainment Group with the mission of developing entertainment experiences and business models that reach beyond the Slingbox. The group also fosters and manages relationships with content creators and owners. Its first initiative, Clip+Sling?, dramatically changes the way consumers socialize around TV by enabling users to clip and share limited segments of their favorite television programming.