Kakao Home Entertainment As Well As Melon Firm Announce Merging In September

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Kakao Amusement and also Melon Company have revealed a merging this loss.

On July 15, both firms chose a merger at their corresponding board conferences. Both firms plan to finish the merger by September 1 after obtaining last authorization at a general meeting of investors on July 30.

Melon, which was spun off from Kakao on July 1, will join Kakao Enjoyment in the type of a CIC (company-in-company) in September. Melon Company will certainly additionally be led by a brand-new Chief Executive Officer, Lee Jae Wook. Even after the merger, Kakao Enjoyment will certainly continue to be led by Kim Sung Soo as well as Lee Jin Soo as CEOs.

The merger proportion in between Kakao Amusement and also Melon is 1:7.8367918, meaning that for every typical share of Melon, 7.836791 typical shares of Kakao Enjoyment will be designated.

Kakao Home entertainment is itself the outcome of a merger between Kakao Page and also Kakao M, the first large merging in between Kakao subsidiaries that occurred back in March. Within a few months of its creation, Kakao Entertainment is shaking up the show business once more by preparing another large merging with Melon simply a few months after its own merging.

This merging in between Kakao Enjoyment as well as Melon is intended to secure international competitiveness and management in the show business. Kakao Enjoyment is expected to see yearly sales of 2 trillion won (concerning $1.75 billion) via its merging with Melon, which has actually been developed as a top-tier domestic digital songs system given that it started procedures in 2004. Melon presently has more than 33 million general members and also over 5 million paid participants. Melon has also held the Melon Songs Awards since 2009, a significant component of the annual K-pop award show scene, and also runs numerous artist-driven sound material like “Success Music Record,” “SMing,” and also extra.

Kakao Enjoyment is a global amusement business that intends and generates material varying from original story IP (copyright) such as webtoons and also web books to songs, drama, films, electronic material, and also live performances. It owns over 8,500 IP such as “Itaewon Class,” “What’s Wrong With Secretary Kim,” “The Uncanny Counter,” and also “Navillera,” every one of which have been made right into hit dramatization. Under Kakao Amusement are 6 movie as well as drama manufacturing firms, including its very own manufacturing workshop, KakaoTV, along with Branding Film and also Baram Pictures. Kakao is additionally affiliated with 6 monitoring companies, consisting of BH Enjoyment and also Administration SOOP, as well as 4 tags, including Starship Entertainment.

Kakao Entertainment is additionally expanding into the North American material market by getting Tapas and Radish, U.S.-based business focusing on internet stories as well as webtoons. It additionally intends to expand its international base in landmass China, ASEAN (the Association of Southeast Asian Countries), Europe, and also India in the 2nd fifty percent of this year.

Lee Jae Wook, the brand-new Chief Executive Officer of Melon, functioned as Kakao M’s Chief Executive Officer and also Kakao’s Principal Music Police officer prior to Kakao M merged right into Kakao Home entertainment. Kakao Home Entertainment Chief Executive Officers Kim Sung Soo as well as Lee Jin Soo will certainly support Lee Jae Wook as the merging reinforces Kakao Entertainment’s abilities to control the entire planning and also manufacturing procedure of home entertainment content, along with enhance the interactions in between various material systems like Melon (songs) and also original web content (webtoons, etc.).

Kakao Amusement specified, “Starting with the merger of Kakao Web page and also Kakao M and currently with the merging with Melon, our process itself is ‘innovation.’ This is only our start, as well as we will certainly construct a strong home entertainment service worth chain and show international growth to come to be a real first-rate leading company.”

Melon stated, “We anticipate that Melon, which has actually preserved its No. 1 setting given that we released the solution, will experience a quantum jump with our strong link to Kakao Amusement. We will certainly continue to lead the growth of the domestic songs market and become a international amusement firm.”

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