SK Telecom Buys 42% of Taihe Rye Music
Thomson Financial, 3/05/08
South Korean telecom operator SK Telecom has signed an agreement to purchase a 42.2% stake in Chinese music recording company Taihe Rye Music for over USD 10 mln. SK Telecom plans to develop a new business model for Taihe Rye's digital content, offering it to wireless content providers such as its own China-based subsidiaries, UNISK and Viatech. Taihe Rye Music currently owns the rights to approximately 1,000 songs from Chinese performers.
Keywords: Taihe Rye mobile music UNISK Viatech digital content SK Telecom wireless
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