Kakao Page Acquires Production Company 'Cross Pictures'... Aiming to Grow Global Super IP

[Asia Economy Reporter Buaeri] Kakao Page announced on the 14th that it has acquired the production company 'Cross Pictures.'

Kakao Page invested 5.88 billion KRW to secure a 49% stake in Cross Pictures.

'Cross Pictures' began with the establishment of its U.S. corporation in 2003 and has produced domestic dramas such as 'Sound of Your Heart' and 'Cheese in the Trap.' It is actively engaged in production activities overseas as well, carrying out about 50 content projects in markets including India, Japan, China, and the United States.

Through this acquisition, Kakao Page and Cross Pictures plan to jointly create global 'Super Intellectual Property (IP).' This is differentiated from Kakao Page's existing 'Super Webtoon Project,' as they plan to produce videos targeting the global market from the initial planning stage together with Cross Pictures.

They intend to continuously carry out 'Global Super IP Projects' that combine Kakao Page's numerous competitive original IPs with Cross Pictures' global production expertise.

Jinsu Lee, CEO of Kakao Page, stated, "Cross Pictures is an important partner with global production capabilities," adding, "Together with Cross Pictures, Kakao Page will create 'Super IP' that will captivate the global market."

Hyunwoo Kim, CEO of Cross Pictures, said, "Having worked overseas and advocated global production, we expect Cross Pictures to play a meaningful role in advancing the Super IPs owned by Kakao Page into the global market."

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