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Hemorrhaging Earthlink now has a burden off its hands, SKTelecom has bought a controlling stake in hip MVNO Helio.

SK Telecom has decided to finally invest $70 million out of the $300 million total it had so far pledged to the Helio MVNO joint venture with Earthlink. Both SK Telecom and Earthlink pledged $100 million of additional funding for Helio back in June. SK Telecom pledged an additional $200 million in September. Until now, no money had actually been funded to Helio. Because SK Telecom is taking this step, its total actual and pledged investments will surpass Earthlink’s, causing it to gain control of Helio’s governance.

What does this mean to the end user? Nothing really, just that the MVNO will continue to be able to operate for at least a few more months.

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