CJ ENM Integrates into Studio Sro... Affiliated Studios Reorganized as Labels
CJ ENM Acquires 100% Stake in Affiliate Studio
CJ ENM Studios Absorbs Affiliate Studio
Integration of IP and Production Capabilities "Enhancing Synergy"
[Asia Economy Reporter Cha Min-young] CJ ENM is integrating its studio production capabilities through its content studio, CJ ENM Studios. CJ ENM is incorporating its affiliated film and video studios as independent labels under Studios to enhance the utilization of intellectual property (IP) and improve management efficiency.
According to the Financial Supervisory Service's electronic disclosure on the 25th, CJ ENM additionally acquired approximately 37.6 billion KRW worth of shares in its affiliate Bon Factory. In addition, it acquired about 18.6 billion KRW worth of shares in Manhwa Family, about 17.6 billion KRW in Vlad Studio, about 15.9 billion KRW in Yong Film, and about 5.1 billion KRW in JK Film. With these additional acquisitions, CJ ENM secured 100% ownership of each company’s shares.
Besides the studios that acquired additional shares on this day, affiliated studios in which CJ ENM holds 100% ownership, including M Makers, Moho Film, and Eggs Is Coming, will be merged into CJ ENM Studios, established in April last year. The existing corporations will be dissolved.
The affiliated studios that previously existed as separate corporations will be incorporated as labels under CJ ENM Studios. It is expected that CJ ENM Studios’ production capabilities will be enhanced by organically utilizing the IPs held by individual studios.
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Although these studios previously existed as separate corporations, they have been operated like an integrated corporation, with each studio’s CEO concurrently serving as an executive under CJ ENM Studios. Oh Kwang-hee, CEO of Bon Factory, was appointed as head of the content division at Studios. Director Yoon Je-kyun, the major shareholder of JK Film, also serves as the head of the content division at Studios.
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