Monday, March 28, 2005

SK Telecom, Earthlink In Joint Wireless Service Venture

ISP EarthLink and Korean mobile communications company SK Telecom said last week that the two companies are forming a new joint venture to market wireless services in the U.S. The new company, headquartered in Los Angeles and Atlanta, will be headed by Earthlink founder and chairman Sky Dayton and capitalized with $440M in partner investments over the next three years. According to an SEC filing, Earthlink has contributed $43M to get the venture off the ground. SK-Earthlink said that it would provide a nationwide mobile communications services and handsets to U.S. customers. Dayton is also CEO and chair of Boingo Wireless, a Santa Monica-based provider of roaming Wi-Fi access.

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