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The company also suffered a net loss of more than $10 million in 1997.
In the meantime, the Korean government in October 1998 launched a plan to fund the broadcasters in an effort to “boost the broadcasting industry which includes extending financial support to the nation's wobbly independent studios,” as reported in the Korea Herald.
In early 1998 Mario Gabelli, a money manager based in Rye, New York, whose group controlled more than $290 million of Media General's Class A stock, requested an opportunity to nominate new members to the company's board.
In April 1999 it sold its Fairfax County cable TV holdings to Cox Enterprises for $1.4 billion, officially exiting the cable industry.
In May 2000, all nine of the company's current directors were reelected.
The controversies swirling around the 2001 tax probes of more than 20 media companies in Seoul illustrate the Kim Dae Jung government's willingness to use various legal mechanisms to “correct[] the market's failure to achieve a democratic media” in South Korea.
As of February 2002, more than half of Korea's 15 million households had broadband service.
By the year 2005 up to 12 million homes, or over 75% of all 16 million Korean households, will access the broadband Internet.
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| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Madden Media | 1982 | $15.9M | 50 | - |
| Zagat | 1979 | $8.5M | 85 | - |
| Digital Content Next | 2001 | $1.9M | 23 | 1 |
| We Are Social | 2008 | $5.2M | 50 | 10 |
| Harvard Law Review | 1887 | $1.0M | 16 | - |
| Envisionit | 2002 | $8.5M | 75 | - |
| Sacramento News & Review | - | $360,000 | 6 | - |
| PRWeek | 1998 | $76.7M | 150 | 26 |
| Phoenix New Times | 1970 | $38.0M | 750 | - |
| L'Officiel USA | 1921 | $1.6M | 45 | - |
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VS Media may also be known as or be related to VS Media and Vs Media.