Naver to Acquire Stake in TVING... Expected to Become Third Largest Shareholder

[Asia Economy Reporter Kang Nahum] It has been confirmed that Naver is pursuing the acquisition of shares in 'TVING,' the internet video service (OTT) subsidiary of CJ ENM.

According to industry sources on the 2nd, Naver and CJ ENM are in negotiations to attract investment in TVING. The negotiations are in the final stages, and both parties are reportedly adjusting the final detailed terms.

A TVING representative said in a phone call, "Earlier this year, Naver and CJ ENM carried out mutual equity investments, so discussions about Naver investing in TVING were a planned step. However, the specific timing and investment scale are still under discussion." Previously, Naver exchanged shares worth 150 billion KRW with CJ ENM.

Naver has recently strengthened its cooperation with TVING. Since March, it has been offering Naver Plus Membership users the benefit of free access to TVING, and on this day, it launched 'Naver Plus Membership With Family,' which allows users to share membership benefits with family or acquaintances, indirectly facilitating the influx of users to TVING.

Industry insiders expect that through this acquisition, Naver will become the third largest shareholder of TVING. Currently, TVING's shareholding structure is CJ ENM 83.3% (largest shareholder) and JTBC Studio 16.7% (second largest shareholder).

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