EchoStar to buy Sling Media for $380 million

ECHOSTAR TO BUY SLING MEDIA FOR $380 MILLION
[SOURCE: Reuters]
EchoStar Communications said on Monday that it will buy Sling Media, a privately held company known for its Slingbox device that relays home television programs to laptops and cell phones. EchoStar, parent of the Dish Network Satellite Television service, said the deal values Sling Media at approximately $380 million, payable in cash and EchoStar options. The transaction is expected to close in the fourth quarter of 2007, EchoStar said. The Slingbox connects cable and satellite TV set-top boxes to the Internet. As a result, cell phones and other Web-connected devices can show what's on a customer's living room TV. Since its launch some two years ago, big media companies have eyed Sling warily as companies attempt to forge their own Internet strategies to reach viewers wherever they spend time.
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