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KT and the Orion conglomerate are working on a wide range of joint projects including a media content venture with capital of W40 billion (US$1=W932).
The Chosun Ilbo obtained a report called "Slamdunk Project" filed by KT that shows KT will collaborate with Orion in the media venture at every stage including production, distribution and screening.
On Media, an affiliate of the Orion group, supplies popular channels such as Orion Cinema Network (movies), Toonibus (cartoons), On Game Net (games) and others. Movie production company Showbox and theater chain Megabox are also Orion subsidiaries.
KT is looking to set up a distribution venture with On Media to secure programming for its Internet TV and satellite broadcasts.
KT will also set up a distribution venture with SkyLife, an affiliate and a digital satellite broadcaster, at the end of this month. On Media plans to join the business pending a government decision on Internet TV. KT and On Media will be 50-50 shareholders.
Another KT project with Orion is a content fund of W100 billion that will be used to produce movies and soaps. To make the films and TV, KT will work with production company Sidus FNH, an affiliate of KT, and Showbox, an affiliate of Orion.
(englishnews@chosun.com )
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