Earthlink has confirmed that SK Telecom will provide up to $270 million to support their struggling wireless carrier Helio, effectively pulling Earthlink out of committing any further cash, MocoNews is reporting.

Helio's ownership is split 50/50 between SK Telecom and Atlanta-based Earthlink, but with this additional infusion, that is expected to change, the report said.

Helio, liked the already-failed Amp'd Mobile and Mobile ESPN, was one of the early niche players in mobile media. It's only two years old, but high prices and a subscriber base of around the 130K mark (as of the end of August) threaten the carrier's survival. Plus, its early triumph--an exclusive with MySpace--is decreasingly relevant as other carriers and handsets begin to offer access to the popular social networking service.

SKT Provides $270 Million To Prop Up Helio; Also Puts Up $110 Million For Online Venture [MocoNews]