Strategic Investment Furthers
Expansion of Emerging Global Mobile
TV Services and Technologies
ENGLEWOOD, Colo.--(BUSINESS WIRE)--Feb. 21, 2007--EchoStar Asia
Holdings Corporation, a subsidiary of EchoStar Communications
Corporation (NASDAQ:DISH), today announced it has invested $40 million
in TU Media Corp., South Korea's only operator of satellite digital
multimedia broadcasting (S-DMB) services with more than one million
subscribers. As a result of this transaction, EchoStar becomes the
second largest shareholder of TU Media Corp. SK Telecom, Co. LTD, a
leading mobile operator in Korea, remains the largest shareholder of TU
Media Corp.
"We are pleased to partner with TU Media Corp., a pioneer in
satellite digital multimedia broadcasting, and we see a bright future
ahead for their business," said Steve Schaver, President, EchoStar
International. "Linked together, TU Media Corp., SK Telecom, and
EchoStar can accelerate the adoption of mobile video."
"Strong financial backing from leading providers of
satellite-delivered digital television such as EchoStar will allow TU
Media Corp. to maintain a competitive advantage in mobile broadcasting
services," said Ki-Han Park, Vice President of TU Media Corp. "Our
strategic partnerships afford us the opportunity to pursue cutting edge
and innovative solutions that will define the next generation of mobile
entertainment, and we look forward to working with EchoStar and SK
Telecom to further expand our mobile video business in Korea and
worldwide."
"SK Telecom is proud of the progress delivered by TU Media Corp., as
the milestone of one million subscribers is a significant achievement,"
said Shin Cho, Senior Vice President of SK Telecom. "We look forward to
working closely with EchoStar as a strategic partner, whose more than 13
million subscribers demonstrate a firm commitment on behalf of the
company to provide consumers with the best value and choice in
programming."
About EchoStar
EchoStar Communications Corporation (Nasdaq:DISH) serves more than 13
million satellite TV customers through its DISH Network(TM), the
fastest-growing pay-TV provider in the country since 2000. DISH
Network's services include hundreds of video and audio channels,
Interactive TV, HDTV, sports and international programming, together
with professional installation and 24-hour customer service. EchoStar
has been a leader for more than 25 years in satellite TV equipment sales
and support worldwide. EchoStar is included in the Nasdaq-100 Index (NDX)
and is a Fortune 300 company. Visit EchoStar's Web site at
www.echostar.com or call 1-800-333-DISH (3474).
About SK Telecom Co., LTD
SK Telecom (NYSE:SKM, KSE:017670) is the top wireless communication
provider in Korea, where it has more than 20 million subscribers taking
up more than 50% of the total market. The company, established in 1984,
reached KRW 10 trillion (USD 10.7 billion) in revenue in 2005. SK
telecom was the first to launch and commercialized CDMA, CDMA 2001x,
CDMA EV-DO and HSDPA networks, and it currently provides cellular,
wireless internet, mobile media, global roaming service and more. For
more information please visit www.sktelecom.com/eng.
About TU Media Corp.
TU Media Corp. is South Korea's first mobile broadcast service
company headquartered in Seoul, South Korea. TU Media is the only
corporation in Korea that has received permission from the government to
provide services for satellite DMB (Digital Multi-media Broadcasting).
TU Media started commercial DMB service on May 1, 2005 and passed 1
million satellite mobile TV customers milestone in 2006. TU Media
currently offers 15 video channels and 19 audio channels. SK Telecom is
largest shareholder of TU Media. For more information please visit
www.tu4u.com or call +82-2-6060-3912.
CONTACT: EchoStar
Kathie Gonzalez, 720-514-5351
press@echostar.com
or
TU Media
Kwang Heo, +82-2-6060-3814
deltachi@tu4u.com
or
SK Telecom Co., LTD
Cindy Kang, +82-2-6100-3823
press@sktelecom.com
SOURCE: EchoStar Communications Corporation
