Thursday, September 20, 2007

SK Telecom Pumps Additional $270 Million into Helio Joint Venture

SK Telecom will invest up to $270 million in Helio, the U.S. wireless voice and data services joint venture operated in partnership with EarthLink.

Helio ended August with 130,000 subscribers, and expects to end the year with between 200,000 and 250,000 subscribers and revenue of $140 - $170 million. Helio expects a full year net loss of $ (340) - $ (360) million.

The companies said Helio continues to carve out a unique space in the wireless market. EarthLink and SK Telecom are currently in discussions to amend their existing agreements to reflect the additional investment by SK Telecom and their future governance of Helio.


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