SK Telecom Wants Larger Slice Of TU Media
By James Quintana Pearce - Thu 21 Dec 2006 11:26 AM PST
SK Telecom is reportedly keen to increase its stake in S-DMB broadcaster TU Media. SK Telecom currently has a 29.6 percent share of TU Media, and is legally allowed to own up to 33 percent—which would require another 6 billion won (US$6.47 million).
“TU Media needs cash to secure audio-visual content to provide satellite DMB services and the SK Telecom’s funding scheme seems to be related to that,” Mirae Asset analyst Kim Kyung-mo said.
SKT may be able to get more money into TU Media if it can attract another investor or the government changes the law to allow it to own 49 percent of the stock.
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