RiseStar
September 25th, 2007, 09:29 PM
Echostar CEO Charles Ergen has announced plans to split Echostar up into 2 separate publicly traded companies, one for Echostar’s Dish Network satellite broadcasting service and a separate company for Echostar’s technology and satellite assets. Ergen will remain as CEO of both spinoff companies. Ergen also announced that Echostar has agreed to purchase Sling Media Inc., which offers the popular “Sling Box” media sharing products. The Sling Media division will be controlled by the new technology spinoff, along with its satellite unit, various international assets and its wholesale satellite unit.
Sling Media has sold over half a million of its Slingbox products, which allows people to stream television programming or other media sources, such as a digital video recorder remotely over the Internet.
The announcements helped put to rest speculation about Echostar’s long term plans among growing competition from cable and satellite providers. The Sling Media sale is expected to complete before the end of the year.
Sling Media has sold over half a million of its Slingbox products, which allows people to stream television programming or other media sources, such as a digital video recorder remotely over the Internet.
The announcements helped put to rest speculation about Echostar’s long term plans among growing competition from cable and satellite providers. The Sling Media sale is expected to complete before the end of the year.