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Friday, December 13, 2013

EchoStar and Vivendi's GVT end talks for Brazilian TV partnership, (NASDAQ: SATS)

EchoStar Corp said it is no longer in discussions to form a joint venture with Vivendi's subsidiary GVT for pay TV services 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 pay-TV service to Brazilians eager to watch World Cup soccer matches and the Olympic Games coming to their country.

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.