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Friday, December 13, 2013

EchoStar and Vivendi's GVT end Brazil pay-TV talks, (NASDAQ: SATS)

EchoStar Corp and Vivendi's Brazilian unit GVT said on Friday they had ended talks to set up a pay-TV venture in Brazil.French media group Vivendi said in October that GVT was in talks with EchoStar to set up a pay-TV venture, hoping to offer the service to Brazilians eager to watch World Cup soccer matches and the Olympic Games coming to their country.EchoStar, which is owned by billionaire Charlie Ergen, said it still plans to using its expertise in satellite and video technology to deliver a pay-TV service to Brazil via a high-powered BSS satellite.Vivendi said in a separate statement that it remains firmly committed to accelerating the deployment of GVT's pay-TV business.

EchoStar Corporation is a holding company. EchoStar Technologies segment designs, develops and distributes digital set-top boxes and related products and technology, including its Slingbox placeshifting technology, primarily for satellite television service providers, telecommunication and cable companies and, with respect to Slingboxes, directly to consumers via retail outlets. Shares of SATS traded higher by 0.78% or $0.38/share to $49.10. In the past year, the shares have traded as low as $32.55 and as high as $51.60. On average, 164316 shares of SATS exchange hands on a given day and today's volume is recorded at 252004.