SKB-TBroad Merger Corporation Launches on April 30
[Asia Economy Reporter Seulgina Jo] The merged corporation of SK Broadband and T-Broad will be launched on April 30.
SK Telecom announced on the 28th that the merger date of its subsidiary SK Broadband and the second-largest cable TV operator T-Broad has been changed from April 1 to April 30 this year. This delay is due to the government review taking longer than initially expected.
The shareholders' meeting for the merger will be held on March 26.
Earlier, the Ministry of Science and ICT conditionally approved the merger of the two companies on the 21st, based on the review results and prior consent from the Korea Communications Commission.
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This merger and acquisition (M&A) drew attention as it reorganized the domestic paid broadcasting market into a 'three-strong system' consisting of KT and KT Skylife (market share 31.31%), LG Uplus and LG HelloVision (24.72%), and SK Telecom (24.03%).
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