As of January 11, communications giant Kakao Inc. has acquired a 76.4 percent stake in Loen Entertainment, the company behind MelOn, for 1.87 trillion won (approximately $1.56 billion).
MelOn is the biggest musik content provider in Korea. Amongst the international community, it is mostly known for its use oleh fan to purchase digital musik and streaming passes to support their favorit musicians on musik shows. Kakao plans to use the acquisition to add musik streaming to its already numerous services (including messaging, games, and even as a payment platform). Meanwhile, Loen plans to use the funds from the acquisition to further expand its musik platform with social-media based services.
What do anda think of the acquisition?
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MelOn is the biggest musik content provider in Korea. Amongst the international community, it is mostly known for its use oleh fan to purchase digital musik and streaming passes to support their favorit musicians on musik shows. Kakao plans to use the acquisition to add musik streaming to its already numerous services (including messaging, games, and even as a payment platform). Meanwhile, Loen plans to use the funds from the acquisition to further expand its musik platform with social-media based services.
What do anda think of the acquisition?
Source: link via link