Friday, September 21, 2007

Earthlink, SK Telecom To Invest $270M In Helio

Earthlink confirmed Friday morning that the firm will invest $270M alongside SK Telecom in Los Angeles-based Helio. Earthlink reported that MVNO Helio now has 130,000 subscribers as of the end of August., and revenues of $140 to $170M. However, Earthlink also reported that Helio will have a full year net loss of $340 to $360M. Helio operates a mobile telephone and data service geared towards the youth market, and is headed by Earthlink founder Sky Dayton.

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