Internet Services Provider EarthLink is giving up control of its joint wireless voice and data services provider Helio to SK Telecom.
The South Korean-based telephone company has agreed to invest up to $270 million in Helio. If the firm ends up investing that amount, EarthLink’s ownership will drop to 22 percent.
EarthLink, under new Chief Executive Officer Rolla Huff, earlier this summer reduced its commitment to Helio as well as to other efforts such as metropolitan wireless fidelity (WiFi) networks. Huff has been slashing costs in an attempt to revive the Atlanta-based communications services provider.