Mobaho to Cease Broadcast Operations
Mobile Broadcasting Corp. has just announced that it will wind down operations of it’s Mobaho! satellite digital services by spring 2009. According to the press release the company face difficult market conditions for it’s subscription model in direct competition with the freely available 1Seg television offerings. Apparently the TU media (subsidiary of SK Telecom) partners based in Korea will continue operations. As Toshiba owns nearly 37% of the venture it is estimated a potential $250M write-down could affect the companies forcasted earnings for fiscal 2008.