EchoStar, Liberty Media Invest in Sling Media

Sling Media Inc., creator of the Slingbox, has secured $46.6 million in financing from a group of investors including Goldman, Sachs & Co., Liberty Media Corp. and Echostar Communications.

"We are delighted to receive financial backing from some of the true pioneers in the industry. Over the past several decades, these leaders have played an integral role in building and shaping the media world we live in today," said Blake Krikorian, co-founder and CEO of Sling Media. "It is refreshing to work with such established players who continue to push for new ways to delight and empower the consumer. In summary, we are stoked."

Launched last summer, the Slingbox uses technology that streams live TV from any cable or satellite set-top box or DVR to broadband-enabled devices.

Additional participants in the financing include Allen & Co., Doll Capital Management, Mobius Venture Capital, The Hearst Corp. and other undisclosed investors.