Tuesday, February 26, 2008

[Korea.net News, Science / Tech, January 29 2008] Hanarotelecom agrees to provide Disney movies

Hanarotelecom Inc., Korea’s No.2 fixed-line communications operator, said Tuesday (Jan. 29) that it has signed a deal with U.S. entertainment giant Disney to provide movies through its Internet-based TV service.

Under the deal, Hanarotelecom said it will gain access to Disney’s vast pool of content data, allowing its "HanaTV" customers to view the U.S. firm’s popular movies and animations such as the "Pirates of The Caribbean" and "Finding Nemo." Details of the financial terms and the contract period were not disclosed.

Launched in 2006, HanaTV provides a video-on-demand service through which customers can watch a variety of programs using a high-speed Internet connection. Since its debut, the service has attracted more than 800,000 customers, boosting hope in the business potential of a full-blown Internet protocol TV (IPTV).

Hanarotelecom, to be purchased by the nation’s top mobile carrier, SK Telecom Co., has been rushing to secure high-value content -- movies, dramas and animations -- in the hopes of gaining a solid foothold in the fledgling but lucrative IPTV market.

The agreement with Disney is the latest in a series of similar content-sharing deals. Hanaro has other contracts with six global movie producers including Warner Bros., Sony Pictures and Universal Studio, the company said in a press release.

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