The 3-year-old maker of the Slingbox will be purchased by the satellite provider for close to $380 million.
EchoStar Communications has announced today an agreement to acquire Sling Media, Inc., maker of the SlingBox. EchoStar's DISH Network is the third largest pay-TV provider in the United States; the transaction values Sling Media at approximately $380 million, payable in cash and EchoStar options. While the deal is set, the red tape is not expected to be hurdled until later in the fourth quarter of 2007.
EchoStar had been an early investor in Sling Media, and has "worked closely" with the company for more than two years, said Blake Krikorian, co-founder of Sling Media. Kriokrian, who was "psyched" to make the announcement, says the merger will allow them to "expand our open multi-platform product offerings," even intimating his ultimate goal is to extend beyond DISH Network's 9 million subscribers. Sling Media's Slingbox and SlingPlayer software is distributed in over 5,000 retail stores in 11 countries. There is no word yet on exactly how this merger is going to affect the products coming from each of these corporations.
|
 |
|
|
|
|
Archive