KT Skylife Acquires 9.9% Stake in Production Company of 'Bossam: Steal the Fate' and 'Miss Hammurabi'

[Asia Economy Reporter Koo Chae-eun] KT Skylife is making a full-scale content investment, signing a convertible preferred stock (CPS) acquisition contract with Studio&New, the producer of "Chief of Staff" and "Miss Hammurabi," on the 27th of last month. Skylife acquired a 9.9% stake in Studio&New and expects to secure competitive drama content and create various synergies in the future.

Studio&New is a drama production company established in 2016 by NEW, a major domestic film investment and distribution company, based on the success of "Descendants of the Sun." It operates not only film production such as "The Fortress" but also a management business. Especially, based on collaboration with its parent company NEW, it is expected to have high profitability by utilizing its own IP (intellectual property rights) and has abundant production experience, making it a production company that can lead the domestic content market. A competitive lineup of writers is also a strength. ▲ Im Me-a-ri (Beauty Inside) ▲ Judge Moon Yoo-seok (Miss Hammurabi) ▲ Kang Full (Moving), professional writers representing each field, are expected to maximize Studio&New's content competitiveness.

Through this investment in Studio&New, Skylife expects to stably secure drama content along with entertainment and variety shows and to share production know-how. Despite the stagnation in the domestic paid broadcasting market last year, it is analyzed that achieving favorable business performance and securing investment capacity were the background for strengthening content competitiveness.

Kang Guk-hyun, president of Skylife, said, "As the domestic paid broadcasting market is being reorganized through M&A and global OTT operators are expanding their entry into Korea, the importance of original content is becoming more critical than ever," adding, "We will strengthen content media business cooperation with Studio&New, which is advancing as a global studio, and further expand synergies between the two companies."

This content was produced with the assistance of AI translation services.