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.
"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 Charlie Ergen, CEO
and co-founder of EchoStar. "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.” "We are psyched to make this announcement. 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,”
said Blake Krikorian, co-founder, chairman 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.” About EchoStar Communications
Corporation
EchoStar Communications Corporation (Nasdaq:DISH) has been a leader for
more than 26 years in satellite TV equipment sales and support
worldwide. The Company’s DISH Network®
is the fastest-growing pay-TV provider in the country since 2000 and
currently serves more than 13.585 million satellite TV customers. DISH
Network® offers a premier line of
industry-leading Digital Video Recorders (DVRs) and hundreds of video
and audio channels as well as the most national HD and International
channels in the U.S., Interactive TV, Latino and sports programming.
DISH Network also provides a variety of package and price options
including the lowest all-digital price in America and the DishDVR
Advantage Package. EchoStar is included in the Nasdaq-100 Index (NDX)
and is a Fortune 300 company. Visit www.echostar.com
or call 1-800-333-DISH (3474) for more information.
About Sling Media, Inc.
Sling Media, Inc. is a leading digital lifestyle company offering
consumer services and products that are a natural extension of today’s
digital way of life. Sling Media's product family includes the
internationally-acclaimed, Emmy award-winning Slingbox™
that allows consumers to watch and control their living room television
shows at any time, from any location, using PCs, Macs, PDAs and
smartphones. For more information on Sling Media or the Slingbox, visit www.slingmedia.com.
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