Nexon to Invest 1.8 Trillion KRW in Global Entertainment Company
[Asia Economy Reporter Buaeri] Nexon announced that it will invest $1.5 billion (approximately 1.833 trillion KRW) in a global entertainment company.
Nexon's Japan subsidiary stated in a disclosure on the 2nd, "We will invest $1.5 billion in a publicly listed company that has the ability to create and maintain global entertainment assets." However, it did not specify which company it will invest in.
Owen Mahony, CEO of Nexon's Japan subsidiary, said, "The global entertainment industry is undergoing a major shift from one-way to interactive," adding, "We are looking for companies that share Nexon's vision of creating and maintaining various types of strong intellectual property (IP) over a long period."
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Nexon also stated that while it will acquire shares of the investment company, it does not plan to participate in management. CEO Mahony said, "We will be a minority investor that helps the investees," and added, "We will invest in companies that have a strong entertainment portfolio and have proven their ability to create and maintain excellent IP."
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