trending Market Intelligence /marketintelligence/en/news-insights/trending/zqqnm09jsf8a-i0i2zrjkw2 content esgSubNav
In This List

Report: South Korea's CJ E&M to take majority stake in Pledis Entertainment

The Cobalt Expansion Drive Is A Copper Story

Podcast

Maritime and Trade Talk | EP12: Oil Price Cap - Implications for Trade and Shipping Risk

Podcast

Maritime and Trade Talk | E10: Navigating Maritime Risks from an Insurers’ Perspective?

Podcast

Maritime and Trade Talk | Episode 11: Trade Outlook - Response To Geopolitical Events


Report: South Korea's CJ E&M to take majority stake in Pledis Entertainment

South Korean content and marketing company CJ E&M plans to acquire a 51% stake in entertainment company Pledis Entertainment, Yonhap News Agency reported June 12, citing a person familiar with the deal.

The report said CJ E&M plans to achieve this by purchasing shares from Pledis founder Han Sung-soo, who owns half of the company, and from Sony Corp.-owned So-net Media Networks Corp., which owns the other half.

The source reportedly told the news outlet that CJ E&M and Pledis have already signed a memorandum of understanding to build a comprehensive partnership and are in talks about a potential deal.

Yonhap said CJ E&M's move signals its intention to expand and find a new revenue source in the K-pop industry. It added that the company acquired a 60% stake in record label Amoeba Culture, which manages Korean hip-hop artists Dynamic Duo, Primary and Crush.