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Satellite TV provider EchoStar Communications announced yesterday that it has agreed to acquire Sling Media, maker of the SlingBox line of remote access media devices.

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.

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