EchoStar Buys Sling Media For $380M

Englewood, Colorado-based satellite television operator EchoStar said late Monday evening that it is acquiring Sling Media, a maker of digital "place-shifting" devices, for approximately $380M in cash and EchoStar options. Sling Media's devices are used to record and play back television shows via the Internet. EchoStar said that it expects the acquisition to close in the fourth quarter of 2007. Venture-backed Sling Media has received capital from Allen & Co., DCM-Doll Capital Management, Goldman Sachs, Hearst Corp., Liberty Media and Mobius Venture Capital, as well as EchoStar itself.