TU Media, among the two main mobile TV services providers in Korea, has received about $74.7 million in funding to bolster its still nascent service and possibly expand overseas. The round was led by U.S. satellite broadcaster Echostar, which invested $40 million and the rest by the Korean telco giant SK Telecom, raising TU Media’s total capital to $307 million. TU Media said the partnership with Echostar will help its ongoing efforts to make inroads in overseas markets.
TU launched its mobile broadcast TV service in Korea in 2005, using the satellite digital multimedia broadcasting (S-DMB), and has more than one million subscribers, even though critics have said the service has not gained as much traction as everyone thought initially.
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