News Corp. To Join Dacom In Digital TV

• from: owner-ts-asia@tele-satellite.com
• Date: Tue, 17 Feb 1998 14:02:36 +0900

News Corp. To Join Dacom In Digital TV

Seoul, South Korea, 17 February 1998 (SAT-ND) -- Rupert Murdoch's News
Corp. has announced plans to sign a joint venture agreement with Seoul's
Dacom Corp. for a digital satellite broadcasting business in South Korea.

"In co-operation with Dacom and Star TV, I have been studying the validity
of the satellite business," Mr Murdoch said after meeting President-elect
Kim Dae-jung on Friday. "I have a lot of interest in media-linked businesses."

"I think an entry into my country by a prominent media entrepreneur, like
chairman Murdoch, will give a lot of impetus to the domestic media market's
development," Kim said.

Under the deal, Dacom's DSM and News Corp would form a domestic consortium
to set up a joint venture digital satellite company. "Details haven't yet
been decided," a Dacom spokesman said. "Further discussions will take place."

It seems that DSM will hold a majority stake in the joint venture, though.
Observers noted that were there also regulatory uncertainties as existing
broadcasting laws do not address the new satellite business very well. Kim
reportedly told Murdoch his government would try to relax various regulations.

Source: Sat-ND, 16 February 1998

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