Broadcasting Commission Begins Review of SKB and T-Broad M&A

[Asia Economy Reporter Koo Chae-eun] The Korea Communications Commission (KCC) began a preliminary consent review on the acquisition and merger of T-Broad by SK Broadband on the 8th.

On the same day, the KCC formed a preliminary consent review committee to conduct the review and approved a review plan that includes notifying the Ministry of Science and ICT once a conclusion is reached. The KCC is expected to make a final decision as early as this month.

The review committee consists of a total of nine members: two from media, two from legal, two from management/economics/accounting, one from technology, and one from viewers/consumers. The review will be conducted over two nights and three days, after which the results will be adopted. The KCC applies the review criteria under Article 10 of the Broadcasting Act, examining nine items including ▲ the possibility of ensuring accessibility to broadcasting services ▲ securing diversity of broadcasting service providers ▲ protecting the rights and interests of viewers (users) ▲ the possibility of fulfilling public responsibilities by the merged corporation and its prospective largest shareholder ▲ securing diversity of content providers ▲ appropriateness of regional channel operation plans and community contribution plans.

Heo Wook, a standing commissioner of the KCC, evaluated, "It is very appropriate to raise the standards for public responsibility review regarding the telecommunications company becoming the largest shareholder and to specify the review related to partner companies." Kim Seok-jin, vice chairman of the KCC, stated, "Rather than focusing on telecommunications operators, there should be demands on whether broadcasting regionality can be strengthened and what sense of responsibility the telecommunications company holds," adding, "Since mergers of broadcasting companies by telecommunications companies with strong capital are expected to become more active in the future, although it is a preliminary consent under the law, the review should be conducted with the attitude of a full review."

This content was produced with the assistance of AI translation services.