[Public Notice+] VT GMP Acquires 30.6% Stake in Cube Entertainment... "Becomes Largest Shareholder"

[Asia Economy Reporter Hyunseok Yoo] VT GMP announced on the 21st through a public disclosure that it acquired a 30.61% stake in Cube Entertainment, becoming the largest shareholder.

Cube Entertainment, acquired by VT GMP, is a comprehensive domestic entertainment company representing idol groups such as (G)I-DLE and Pentagon, along with numerous celebrities. Through this acquisition, VT GMP plans to strengthen its new business initiatives in earnest.

According to the company, it intends to enter the K-Culture media commerce platform business of its media commerce venture KVLY, and activate projects such as star collaborations and performance planning. VT GMP and KVLY have been continuously strengthening their network by signing business agreements with subsidiaries of China’s NetEase Group, ‘Cloud Rapenty,’ China’s largest performance planning company ‘Frigos,’ and China’s leading online fashion company ‘Handuiseo,’ with a service launch scheduled for March.

A KVLY representative explained, “In the online platform market, especially the media commerce platform market, securing proprietary IP and content is a key and competitive advantage, and through Cube Entertainment’s joining, we have secured essential proprietary IP for the K-Culture media commerce business,” adding, “We will maximize the synergy effect between KVLY and Cube Entertainment.”

They continued, “In an era where culture drives industry, especially in the global market, the environment is being formed where K-POP & K-Culture, which have been loved so far, can advance beyond cultural content to lifestyle brands proposed by stars,” and added, “KVLY and Cube Entertainment will become a new global business model for Hallyu.”

Meanwhile, VT GMP secured a 51% stake in its affiliate KVLY on the 19th, completing its incorporation as a subsidiary.

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