SK Telecom seriously considering film industry move

Written by Darcy Paquet
Friday, 15 June 2007
Story Categories: CJ Entertainment, Film, Finance, Korea, Mediaplex Showbox, mobile content, SEOUL -- South Korean telco SK Telecom is seriously mulling a move into film investment and distribution next year. "We have not yet determined the scale of the endeavor," the firm said Thursday. "We are also not ruling out the possibility of importing foreign titles in order to establish a distribution lineup." SK's move has been rumored for years and, if it does come about, the deep-pocketed conglom's ambitions would cause significant ripples in a sector dominated by CJ Entertainment, Showbox and Lotte Entertainment. SKT, which also holds large stakes in talent/production firm iHQ and producer-distributor Chungeorahm, is not, however, considering setting up its own production division. For years, SK Telecom has been rumored to be considering establishing a direct presence in the local distribution market, however the recent announcement is the most direct sign yet of the company's intentions. "If we invest in a well-made film and it becomes successful, this can provide clear benefits to the expansion of our mobile businesses. Moving into the film sector also signals our intent to build a strong foundation for producing new contents," the firm said. © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. Bookmark with.. Comments (0) Write comment This content has been locked. You can no longer post any comment. There is a problem with the comment system, or you do not have javascript enabled.
Last Updated ( Monday, 18 June 2007 )