Sling Media has raised $46.6 Million in funding from Goldman, Sachs & Co., John Malone’s Liberty Media Corporation and Echostar Communications and original investors, DCM – Doll Capital Management, Mobius Venture Capital and Hearst Corporation. The company had raised around $15 million in previous rounds of funding. I had hinted that some of the big names in media were going to back the company, and had heard these names, but could not confirm the chatter.
You can’t get bigger than John Malone and Charlie Ergen, two old media dons who know how to stay ahead of the curve. Malone, after all was the first to figure out the importance of cable broadband and invested in @Home. Ergen was early to the satellite TV game. Their investment in Sling Media actually is a sign that the old media crowd is taking place shifting quite seriously.
Longer term, it is likely that we might see Sling’s technology built right into a DISH Network set-top box that uses the broadband pipe to route out the “television signals.” I wonder how the cable and phone companies will react to this development. Malone, on the other hand is expanding his cable network in Europe and could easily use Sling’s place shifting technology to offer a premium place shifting service and go one up on DSL providers.