Broadcasting initially emerging as a radio between 1930 and 1940 has quitely paraded its social influences on the public and affirmative effects to democracy. TV broadcasting that started on the premise that it should be powerful enough to inject informations into the brain of the audience was launched in a black and white film and now has spreaded out in the market overcoming the scarcity of frequency due to the development of IT technology, the convergence of broadcasting and communication and so on. Most of all, the government has deeply interfered in the market since the broadcasting has greatly affected the public and the democracy of our society. However, after 1990, with the expectations to the corporation for their competent roles in developing the broadcasting, the direction of broadcasting regulation has been headed toward to such policies as providing better quality informations and culture services and fostering the diversity of views rather than toward the regulation for the public interests which is rooted on the principle of the scarcity. And this tendency of regulation is to deal with the reality in which the function of broadcasting has been intensified as a culture medium while its influence on the public has been lessened as the result of alterations in the characters of tradition and legitimacy. In turn, these policies are palpating the acceptance of competition principle not the reinforcement of public interest incurred from the mono- poly in broadcasting industry. Therefore, it is being required to review regulations related to such competition law as introducing the evaluation of ongoing competition in oder to maintain the fair competition. In the Meantime, SBS Media Holdings Company was established in March 2008. And then SBS Broadcasting Company was included into a subsidiary of SBS Media Holdings Company. Later on SBS Media Holdings Company appeared as the first broadcasting holding company which, in Korea, primarily owns the ground wave business as a subsidiary. Putting aside all these critical voices of the public against the broadcasting holdings company, even the related Government Agencies like the formal Korean Broadcasting Committee or the Ministry of Information and Communication, could not systematize exact analysis at that time about the effects the broadcasting holding company may have brought in the future. Currently, it is anticipated that new kind of broadcasting holding company will be founded walking in step with the permission for the program providers of synthesized formation and report specialty. Accordingly, about the broadcasting holdings company that actually owns and controls the broadcasting company and the program providers of synthesized formation and report specialty, which enormously affects the formation of the public opinion, it is necessary to examine discreetly whether to devise a special regulation reflecting the peculiarity of broadcasting industry or to adopt the existing legal theory of holdings company as it is. All in all, this these is seeking for improvements relating to the regulation system after reconsidering meaning and distinctiveness mainly of broadcasting holdings company which are controlled under the current law of 「Monopoly Regulation and Fair Competition」.