03/31, 8:25am
SK Telecom may buy out Blockbuster
Korean cell carrier SK Telecom said Thursday that it was contemplating making a bid for the struggling video chain Blockbuster. An official didn't explain the motivations, but it's suspected the deal would be an attempt to diversify away from its Korea-only network, where it leads but has a tough fight with KT and LG Telecom. Daewoo Securities analyst Byun Sung-jae told the WSJ that SK Telecom might feel oversaturated but could thrive in Internet video, where Blockbuster's content rights would be advantages.
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05/08, 3:30pm
Virgin Mobile Helio Rumor
SK Telecom may create a new, large carrier in the US by folding Virgin Mobile and Helio together, according to an alleged source for mocoNews. Earthlink's withdrawal from Helio is said to have pushed Helio's Korean parent, SK Telecom, towards a buyout of Helio's larger competitor Virgin Mobile to ensure it has a larger presence in the US. Such a takeover would give SK Telecom enough clout to merge both Helio and Virgin together.
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02/29, 2:50pm
Helio loses $326 million
MVNO carrier Helio has posted a net loss of $326 million for 2007, an official announcement reveals. Although the carrier's revenue grew to $171 million last year from $46 million in 2006, the company has also been facing mounting costs, such as an advertising budget that rose from $21.6 to $47.5 million. Recent losses are notably out of proportion to those from 2006, which were only $192 million.
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02/08, 4:50pm
EarthLink sells muni Wi-Fi
Marking a low point for efforts at public Internet, EarthLink has announced the closure of all its operations related to municipal Wi-Fi access, which are now on sale. The Internet service provider's venture effectively stalled in the summer, and will cost its budget $20.7 million. CEO Rolla Huff blames the stoppage on expenses; analysts note that EarthLink asked cities such as San Francisco to help pay for some upfront costs, but they were unwilling, leaving the burden solely on the corporation.
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