Nexon to Invest Up to 600 Billion KRW in Russo Brothers' Marvel Production Company
[Asia Economy Reporter Kang Nahum] Nexon announced on the 6th that it will make a strategic investment of $400 million (approximately 480 billion KRW) in AGBO Studios, founded by world-renowned film directors the Russo brothers and producer Mike Larocca.
With this investment, Nexon will secure more than a 38% stake in AGBO, making it the second-largest shareholder after AGBO's management, the largest shareholder. Nick Van Dyke of Nexon Film & Television and Tim Connors, Senior Vice President of Nexon, will join the AGBO board of directors.
Nexon plans to invest an additional $100 million (approximately 120 billion KRW) in AGBO during the first half of this year.
AGBO is a global entertainment production company established to create various digital media content, including films. The Russo brothers, who directed four Marvel films such as "Avengers: Endgame" and "Captain America: Civil War," are part of the writing team.
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Owen Mahoney, CEO of Nexon, said, "Nexon has a unique ability to develop major IPs and maintain popularity by servicing them in global markets for decades," adding, "AGBO and Nexon share a core vision of inspiring customers worldwide with content spanning various platforms and markets."
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