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SK Telecom, Walt Disney Plan To Set Up JV To Launch Korean-Language Disney Channels

SEOUL -(Dow Jones)- SK Telecom Co. and the Walt Disney Company (DIS) intend to form a joint venture to launch Korean-language Disney channels in South Korea, SK Telecom said Wednesday. South Korea's largest wireless carrier by revenue said in a statement that it will be the majority shareholder in the joint venture with a 51% stake, while the remaining 49% will be handed to Disney Channel International (DCI), one of Walt Disney's subsidiaries. Under the agreement, the joint venture plans to launch Korean-language versions of the Disney Channel and Playhouse Disney Channel. Financing arrangements for the venture weren't mentioned in the statement. "These two channels will be available in HD (High Definition) multiplex as well as SD format over cable, direct-to-home and IPTV platforms and related on-demand digital media services in South Korea. Anchored by Disney's much-loved characters and content for kids and families, the channels will air a significant proportion of locally produced, Korean-language programming," SK Telecom said. "South Korea is one of the most exciting digital media markets in the world. Disney's creativity and innovative content, combined with SK Telecom's leading global expertise in digital media and telecommunications, present a unique offering that meets the growing consumer appetite for quality family entertainment where and when they want it," Andy Bird, chairman of Walt Disney International, said in the statement. The launch of the channels is slated for spring 2011 pending regulatory approval from the Korea Communications Commission. -By Jung-Ah Lee, Dow Jones Newswires; 822-3700-1907; jung-ah.lee@dowjones.com

Stock News for Telecom (SKM)
DateTimeHeadline
08/28/201511:53:45Report of Foreign Issuer (6-k)
08/28/201511:48:49Report of Foreign Issuer (6-k)
08/28/201504:08:00SK TELECOM CO LD (GDR) - Decision on Acquisition of Shares by...
08/28/201504:00:00SK TELECOM CO LD (GDR) - Decision on Disposal of Shares by Subsidiary
08/04/201509:00:00Wireless Communications Equities under Review -- America Movil...
07/31/201506:16:28Report of Foreign Issuer (6-k)
07/30/201507:14:00SK TELECOM CO LD (GDR) - 2Q 2015 Business Results
07/24/201506:03:17Report of Foreign Issuer (6-k)
07/24/201506:03:17Report of Foreign Issuer (6-k)
07/24/201502:00:00SK TELECOM CO LD (GDR) - Resolution on Interim Dividend
07/24/201502:00:00SK TELECOM CO LD (GDR) - 2Q15 Conference Call Announcement
07/14/201512:01:00Accedian Monitoring Solution Applied to SK Telecom's Network...
07/06/201510:28:27Report of Foreign Issuer (6-k)
07/06/201502:00:00SK TELECOM CO LD (GDR) - Results of Disposal of Treasury Shares
06/15/201506:15:48Report of Foreign Issuer (6-k)
06/15/201502:03:00SK TELECOM CO LD (GDR) - 2015 1st Quarter Business Report
05/29/201510:48:29Specialized Disclosure Report (sd)
05/11/201509:26:30Report of Foreign Issuer (6-k)
05/06/201510:01:59Report of Foreign Issuer (6-k)
05/06/201510:01:00SK TELECOM CO LD (GDR) - Details Regarding Stock Repurchase Plan

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