SM,Acquire Key East, Becoming Dominant Player
- 이소연 2018.03.14 13:45
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| SM Entertainment |
WIth the acquisition, SM will also own Digital Adventure which is the largest Korean wave platform operator in Japan and a subsidiary of Key East.
SM entered into a partnership with Key East when its SM Entertainment Japan has acquired Digital Aventure's share listed on JASDAQ and became the second largest shareholder.
"The acquisition will enable Key East to integrate into the SM Entertainment Group and continue to build on its existing reputation, as well as supporting its broader engagement with SM's global network," announced SM.
In addition to this, Key East is expected to diversify its mobile and online platform based on entertainment content such as star, music, MCN, and UCG, as well as Korea, Japan and the global market.
SM also announced the acquisition of FNC Adculture. SM acquired the shares and management rights of FNC Adculture in the form of the new and old stock acquisition. After acquisition, SM Entertainment will own approximately 31% of the total share, and FNC Entertainment will become the second largest shareholder.
SM Entertainment and FNC Entertainment jointly promote various broadcasting and image contents production that can target broadcasting, online, mobile, and overseas markets based on the strong star and MC power of SM Entertainment Group and FNC Entertainment, meaning a strategic alliance and business cooperation.
Written by Moon Wan Sik
Translated by Lee So Yun
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