EchoStar to Buy Sling Media for $380 Mln

Satellite TV operation EchoStar has announced plan to buy digital video place-shifting outfit Sling Media for about $380 million.

Satellite TV operator EchoStar has entered into a deal to aquire digital video place-shifting developer Sling Media for about $380 million in cash and EchoStar options.

Sling Media develops and distributes the SlingBox and SlingPlayer software, which enables users to watch their home television, recorded programming, and even their home video collection from anywhere in the world using a broadband Internet connection. A recent product has been Clip+Sling, which enables users to socialize around television content by sending each other short clips of video programming along with comments.

EchoStar was an early investor in Sling Media.

“We are psyched to make this announcement,” said Sling Media co-founder, chair, and CEO Blake Krikorian, in a statement. “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.”

Through the acquisition, EchoStar is expected not only to continue to develop Sling Media’s video place-shifting business, but also to integrate Sling Media technologies into its DISH Network products, potentially developin an integrated service offer that enables customers to tap into their home satellite feed and recorded programming via the Internet from anywhere in the world.

The deal is expected to close by the end of 2007.