Investor Relations

SEOUL, South Korea and LAS VEGAS, Jan. 9, 2019 — SK Telecom (NYSE: SKM) and Sinclair Broadcast Group (Nasdaq: SBGI) today announced that they signed a Memorandum of Understanding (MoU) with Harman at the ‘2019 CES’ in Las Vegas to jointly develop and commercialize digital broadcasting network-based automotive electronics technology for global markets.

Under the MOU, the companies will collaborate to build an advanced automotive platform based on ATSC 3.0, the next-generation broadcasting technology standard, to enable drivers to experience in-vehicle HD terrestrial TV broadcasting, secure firmware updates, HD map updates and V2X certificate management via terrestrial digital broadcasting facilities operated by Sinclair Broadcast Group throughout the United States. The technology will also be deployed in other geographies as local broadcast facilities become available.

The three companies will work together to provide market leading technology and grow market share in U.S. Market. The companies also plan to seek joint business opportunities in the global automotive market.

The companies intend to unveil their automotive platform and related equipment and services for the first time at the ‘2019 National Association of Broadcasters Show (NAB Show),’ the world’s largest broadcasting equipment exhibition hosted in Las Vegas in April 2019.

“Mobility and media are core business areas that will undergo innovative changes in the 5G era,” said Park Jung-ho, President and CEO of SK Telecom. “With Harman and Sinclair Broadcast Group, SK Telecom will target the mobility and media markets in the U.S. and expand into the global market.”

“Today’s pervasively connected cars are becoming just one more personalized mobile device that consume data to deliver a maximum safety and reliability and an optimized user experience,” said Dinesh Paliwal, President and CEO of Harman. “ATSC 3.0 will bring a high-value option for bulk data communication, which can supplement conventional 4G and 5G mobile data networks. We are pleased to work with two industry powerhouses in partnership to bring this powerful technology to the market.”

“With this announcement, Sinclair is continuing to partner with market leaders to further develop next-gen broadcasting solutions,” said Chris Ripley, President and CEO of Sinclair Broadcast Group. “We are excited to be working with Harman and SK Telecom, two prominent international technology leaders, to progress ATSC 3.0 automotive solutions and experience. This collaboration focuses on developing key mobility enhancements of ATSC 3.0 as a potential value creator for Sinclair and other U.S. broadcasters.”

About SK Telecom

Established in 1984, SK Telecom is the largest mobile operator in Korea by both revenue and number of subscribers. As of December 2017, the company holds around 50 percent of the market, with 30.2 million mobile subscribers including 22.87 million LTE subscribers. It has reached KRW 17.520 trillion in revenue in 2017. SK Telecom has led the advancement of mobile technologies ranging from 2G to 4G, and is currently setting important milestones in its journey to 5G. The company is not only leading innovation in the field of mobile network, but also providing IoT, media, home and platform services. SK Telecom is determined to play a significant role in the Fourth Industrial Revolution by achieving innovations and promoting shared growth with other players in the industry. For more information, please contact [email protected] or www.globalskt.com.

About HARMAN

HARMAN (harman.com) designs and engineers connected products and solutions for automakers, consumers, and enterprises worldwide, including connected car systems, audio and visual products, enterprise automation solutions; and services supporting the Internet of Things. With leading brands including AKG®, Harman Kardon®, Infinity®, JBL®, Lexicon®, Mark Levinson® and Revel®, HARMAN is admired by audiophiles, musicians and the entertainment venues where they perform around the world. More than 50 million automobiles on the road today are equipped with HARMAN audio and connected car systems. Our software services power billions of mobile devices and systems that are connected, integrated and secure across all platforms, from work and home to car and mobile. HARMAN has a workforce of approximately 30,000 people across the Americas, Europe, and Asia. In 2017, HARMAN became a wholly-owned subsidiary of Samsung Electronics Co., Ltd.

About Sinclair Broadcast Group

Sinclair is one of the largest and most diversified television broadcasting companies in the country. The Company owns, operates and/or provides services to 191 television stations in 89 markets. Sinclair is a leading local news provider in the country and operates the greatest number of award-winning news rooms in the industry and is dedicated to impactful journalism with a local focus. The Company has multiple national networks, live local sports production, as well as stations affiliated with all the major networks. Sinclair’s content is delivered via multiple-platforms, including over-the-air, multi-channel video program distributors, and digital platforms. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.

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SOURCE Sinclair Broadcast Group, Inc.