EchoStar to buy Slingbox maker

[Analoguesat]

EchoStar is to buy Sling Media in a transaction that values the Slingbox maker at $380m.

"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 and co-founder 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. 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."

EchoStar - which is the parent company of digital satellite TV provider Dish Network - first invested in Sling over two years ago.

"We are psyched to make this announcement. We have worked closely with EchoStar for more than two years, and have come to realise that both companies have similar entrepreneurial cultures and mutual dedication and passion for creating empowering experiences that benefit the consumer and the media industry," said Blake Krikorian, chairman, co-founder and CEO of Sling Media. "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."

Sling's signature Slingbox product can be hooked up to a TV and a broadband internet connection to share the TV picture and sound over a local area network and over the net.

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[BGonaSTICK]

Ooh err Mrs. I never knew that Sling Media were so obliged to EchoStar in the first place.