Kakao Entertainment Acquires 100% Of Antenna’s Shares
According to the Fair Trade Commission, Kakao Entertainment has secured a 100% stake in Antenna just two months after the company announced a strategic partnership. Antenna, who recently recruited Yoo Jae Suk, also had a considerable influence on Kakao making additional investments in the company.
A Kakao Entertainment official stated, “We plan to discover and care for Antenna and its artists and continue to collarbone in the music and video content business.” According to the media, Kakao Entertainment has already finished planning a reality entertainment content with Antenna artists and is aiming to launch it this fall.
A market official stated, “Kakao’s quick initial investment and subsequent investment with Antenna is a rare case in the M&A market. (Kakao Entertainment) is an affiliate of Kakao Group, which is considered a strong candidate for the next IPO, so the performance over this year and next year is very important. It is highly likely that various attempts to strengthen the business competitiveness this year will be made, including webtoon integration.”