AXN in Korean JV Deal

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SINGAPORE: SPE Networks — Asia has formed a joint venture with CU Media—a division of the cable MSO C&M—to manage and operate the AXN channel brand in South Korea.

With the new JV, AXN Korea, which features English-language shows subtitled into Korean, will be able to add local content to its slate. The joint venture will also expand AXN’s Korean distribution base in cable. The brand has been in the market since July 2005, licensed as a foreign retransmission service. Over the past five years it has launched an HD feed, secured carriage on all three Korean IPTV platforms and signed deals cable MSOs CJ Hellovision and On Media.

“AXN is our flagship channel brand and has been the leading international channel in Asia for many years," said Ricky Ow, the senior VP and general manager of SPE Networks – Asia. "Since its launch in Korea, it has been very well-received, as can be seen by the distribution growth achieved over a relatively short span of time. I am very excited about this joint venture because this gives us the opportunity to further localize AXN, as well as significantly expand our brand presence and viewership."

AXN in Korea now has a combined reach of over 4 million households.