SK Telecom to Buy CJ Hellovision

SK Telecom of Korea is to buy a 30% stake in CJ Hellovision from CJ’s parent company and 25.3% through other stock purchases to take control of the firm which is said to be the largest supplier of cable channels and internet TV in Korea. The acquisition will then be merged with a wholly-owned subsidiary, SK Broadband Co, by April next year. The Korea Herald said that SK has been lagging behind KT Telecom in developing these services.