EchoStar Announces Agreement to Acquire Sling Media, Inc.

EchoStar
Communications Corporation announced that it has agreed to acquire Sling Media,
Inc., a privately-held digital lifestyle products company. EchoStar, through
its DISH Network, is the third largest pay-TV provider in the

United States.
The transaction values Sling Media at approximately $380 million and is payable
in cash and EchoStar options. The transaction is subject to customary closing
conditions, and is expected to close in the fourth quarter of 2007.

Established
in 2004, Sling Media has been a innovator in the digital lifestyle
space through the introduction of the internationally-acclaimed, Emmy
award-winning Slingbox and SlingPlayer software. Sling Media’s product line
is distributed in over 5,000 retail stores in 11 countries.

In 2006,
Sling Media created the Sling Entertainment Group with the mission of
developing entertainment experiences and business models that reach beyond the
Slingbox. The group also fosters and manages relationships with content
creators and owners. Its first initiative, Clip+Sling, dramatically changes
the way consumers socialize around TV by enabling users to clip and share
limited segments of their favorite television programming.

“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,” said Charlie Ergen, CEO and
co-founder of EchoStar. “With today’s increasingly mobile lifestyle, EchoStar’s
acquisition of Sling Media will allow us to offer innovative and convenient
ways for our customers to enjoy their programming on more displays and
locations, including TVs, computers and mobile phones, both inside and outside
of the home. This combination paves the way for the development of a host of
new innovative products and services for our subscribers, new digital media
consumers and strategic partners.”

“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,” said
Blake Krikorian, co-founder, chairman and CEO of Sling Media. “By combining
strategies, resources and technologies with EchoStar, Sling Media will be able
to rapidly expand our open multi-platform product offerings, not only for DISH
Network subscribers, but for digital media enthusiasts around the globe.”