SK Telecom And Sinclair Broadcast Sign JV Agreement

(RTTNews) - SK Telecom (SKM) and Sinclair Broadcast Group (SBGI) announced in Las Vegas that the companies signed a joint venture agreement to lead the next-generation broadcasting solutions market in the U.S. and globally. The two companies will jointly fund and manage a joint venture company within the first quarter of this year.

The companies noted that the joint venture company will develop broadcasting solutions based on ATSC 3.0*, the next-generation broadcast transmission standard, with the aim to commercialize the solutions for the first time in the U.S. market in 2019.

SK Telecom and Sinclair anticipate all television broadcasting stations throughout the U.S. will adopt broadcasting solutions based on ATSC 3.0 within the next decade. Through the joint venture company, the two companies plan to actively provide ATSC 3.0 standards-based solutions to all U.S. broadcasting companies and seek other opportunities globally.