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SK backs Helio with $100mSK backs Helio with $100m

Tim Green Jul 2 2007, 10:30pm

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SK Telecom will shore up its Helio MVNO with a $100m injection.

The pressure has been on Helio, SK's US joint venture with Earthlink, since it reported a $192m loss last year and projected 360m losses for this year. It hasn’t been helped by the dismal performance of similar MVNOs either: ESPN was closed by its parent, Disney, while Amp’d filed for Chapter 11.

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However SK believes Helio will turn a profit by the end of next year and that US subscribers will nearly treble to 200,000 this year. The company said the additional investment will be matched by Earthlink.

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