SK considers cash infusion for TU Media
2008/03/28 09:46The Korea Times reports that SK Telecom's board will look at making another investment in the struggling Satellite Digital Multimedia Broadcasting (S-DMB) operator TU Media:
TU Media has suffered some 270 billion won in losses as it failed to find profit sources with the TV-on-move service. SK Telecom is its largest shareholder, with a 32.7 percent stake. It is the only mobile phone service operator that receives TU Media's programs.
``Capital increase at TU is on the agenda of the board meeting. But we do not know how much it will be, or whether it will be approved or not,'' a public relations official of SK Telecom said. Several news reports speculated that the additional investment will be around 50 billion won ($50 million).
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