Echostar (DISH) announced it will pay $380 million in cash and stock to acquire Sling Media Inc., the company that produces the Slingbox.
The Slingbox technology enables users to migrate their TV programs to portable devices like laptops, cellphones and PDAs by connecting cable or satellite TV set-top boxes to the Web.
Another product Slingbox offers is called Clip+Sling, which empowers users to clip content in "limited segments of their favorite television programming," and share it with their friends.
Charlie Ergen, CEO and co-founder of EchoStar said, “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."
At this time, Sling Media has its product in over 5,000 retail outlets in 11 countries.
Echostar was one of the earliest investors in Sling Media, which launched in 2004.
» Echostar Looking to Split into Two Companies from BizofShowBiz
EchoStar's (DISH) CEO Charlie Ergen announced he is pursuing the idea of splitting the company into two separate entities. One company would serve consumers and the other the wholesale technology sector. Under the changes, Echostar's Dish Netwo... [Read More]
Tracked on: September 25, 2007 3:56 PM | Permalink to Trackback