EchoStar to acquire Sling Media
Satellite television company EchoStar has announced a deal to acquire Sling Media for $380 million.
Sling Media is the maker of the Sling Box, among other products, that lets users watch their home TV anywhere in the world via the internet.
"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", EchoStar's CEO said.
Blake Krikorian, Sling Media's CEO seemed pleased with the deal: "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".
The deal is expected to be completed by the end of the year and Sling Media will continue to work with EchoStar rivals in regards to interoperability of products.