SK Broadband Signs Merger Deal with No 2 Cable TV Operator t-broad

SK Broadband Signs Merger Deal with No 2 Cable TV Operator t-broad Image Credit: Gajus/Bigstockphoto.com

SK Telecom announced that its fixed broadband subsidiary SK Broadband has signed a merger deal with t-broad, the second largest cable TV operator in Korea with 3.14 million subscribers. t-broad’s services are available in major cities including Seoul, Gyeonggi, Busan and Daegu.

The ownership structure of the merged entity will be as follows: SK Telecom 74.4 percent; Taekwang Industrial 16.8 percent; Financial Investors 8.0 percent; and treasury stock and others 0.8 percent.

Through the merger, SK Broadband and t-broad will become a media company with around 8 million subscribers. According to the Ministry of Science and ICT, the number of SK Broadband’s IPTV subscribers stood at 4.54 million and the number of t-broad’s cable TV subscribers reached 3.14 million as of the end of June 2018.

SK Telecom stated that it expects the solid financial structure of t-broad to have a positive impact on its consolidated earnings and will continue to make multifaceted efforts to promote mutual growth of IPTV and cable TV after the merger of SK Broadband and t-broad.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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