15 May 2010

Disney Plans Joint-Venture Channels in South Korea

Associated Press

LOS ANGELES — The Walt Disney Co. says it plans to launch two Korean-language Disney channels in South Korea in a joint venture with SK Telecom.

The venture plans to launch Disney Channel and Playhouse Disney Channel aimed at children and families there in the spring of 2011, pending approval from Korean regulators.

SK Telecom will own 51 percent of the venture, while Disney will own 49 percent.

The channels will be carried on cable and Internet-connected TV services.

SK Telecom CEO Man-won Jung said in a statement Tuesday that he hopes the alliance will create other opportunities and noted that consumers watch video on an array of devices including mobile handsets and tablet computers.

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