ID :
202159
Thu, 08/18/2011 - 14:52
Auther :
Shortlink :
https://oananews.org//node/202159
The shortlink copeid
Yonhap News TV files suit over decision to delay closing date of existing channel
SEOUL, Aug. 18 (Yonhap) -- Yonhap News Agency's new cable news channel on Thursday filed an administrative suit over a recent decision to postpone the closing date of an existing news channel, which it argued will delay Yonhap's planned launch and will lead to heavy financial losses.
Yonhap News Television challenged the decision by the Korea Communications Commission (KCC) to put off the shutdown date of MBN, a cable news channel, by three months from Sept. 30 this year to Dec. 31.
Operated by the Korean-language Maeil Business Newspaper, MBN will later be merged into a general programming channel.
However, Yonhap News TV argued that until MBN closes down, it can't fully acquire its status as the new cable news channel.
"Yonhap News TV had trusted the KCC's earlier decision on MBN and had been working to launch its cable news business on Oct. 1," Yonhap News TV said. "We've expanded our office space and hired new employees to prepare for the start but because of the KCC's move, we stand to suffer great losses."
Yonhap estimated it could lose about 36.7 billion won (US$34.2 million) over the three-month period until the end of this year.
Yonhap also said it was "illegal" for the KCC to allow MBN to continue to operate as a news channel after it had been granted license for a general program channel and as Yonhap prepares to launch a new news channel.
Yonhap, South Korea's key news service, received final government approval for the cable news channel on March 30, after winning the license in an open bidding process supervised by the KCC.
Yonhap News Television challenged the decision by the Korea Communications Commission (KCC) to put off the shutdown date of MBN, a cable news channel, by three months from Sept. 30 this year to Dec. 31.
Operated by the Korean-language Maeil Business Newspaper, MBN will later be merged into a general programming channel.
However, Yonhap News TV argued that until MBN closes down, it can't fully acquire its status as the new cable news channel.
"Yonhap News TV had trusted the KCC's earlier decision on MBN and had been working to launch its cable news business on Oct. 1," Yonhap News TV said. "We've expanded our office space and hired new employees to prepare for the start but because of the KCC's move, we stand to suffer great losses."
Yonhap estimated it could lose about 36.7 billion won (US$34.2 million) over the three-month period until the end of this year.
Yonhap also said it was "illegal" for the KCC to allow MBN to continue to operate as a news channel after it had been granted license for a general program channel and as Yonhap prepares to launch a new news channel.
Yonhap, South Korea's key news service, received final government approval for the cable news channel on March 30, after winning the license in an open bidding process supervised by the KCC.
