CJ E&M In Talks To Become Major Shareholder Of Pledis Entertainment

[juhli.livejournal.com]

CJ E&M is in talks to acquire shares of Pledis Entertainment.

On June 12, industry representatives reported that CJ E&M is in discussion with Pledis Entertainment to acquire 51% of their shares.

In response, a source from CJ E&M commented, “It is true that we are working on and discussing to acquire shares of Pledis Entertainment,” and added, “However, details are still being discussed.”

Founded in 2007 by Han Sung Soo, Pledis Entertainment houses artists including After School, NU’EST, SEVENTEEN, PRISTIN, and Han Dong Geun.

CJ E&M is a major corporation that has divisions for television, film, music, conventions, performing arts, animation, and media solutions. It owns television channels including tvN, Mnet, and OCN and is a major shareholder of agencies including Jellyfish Entertainment, MMO Entertainment, AOMG, and more.



Response from Pledis

Pledis Entertainment has responded to reports on CJ E&M being in talks to become a major shareholder.

In response to the reports, a source from Pledis Entertainment commented, “Nothing has been decided regarding CJ E&M acquiring shares of Pledis,” and added, “We are in discussion to work on a new overseas business together.”

CJ E&M in discussions with Pledis Entertainment to secure stake in the company for intellectual property rights to advance into the overseas market https://t.co/3Yixcg8TJF pic.twitter.com/2kzZmB4Mr7

— The Seoul Story (@theseoulstory) 12. Juni 2018

- CJ E&M in discussions to acquire a 51% stake in Pledis Entertainment, making them majority shareholder
- Both sides reportedly signed a memorandum of understanding signaling the cooperation between the two sides.
- CJ E&M won't give out any specific details about this atm, simply saying that the report about the acquisition of shares is true, but the specific details such as how much % they would get are still in discussion
- Currently Han Sung Soo CEO + (Japan) Sony Group's Sonet Entertainment own 50% stake each
- CJ expected to take shares from both, ~20-30b won worth depending on exact valuation of Pledis Entertainment
- Pledis is estimated to be worth somewhere in the 50 billion won range

If you guys wondering what or who is Sony So-net, it's a company who bought 50% of Pledis share few years ago https://t.co/dxaI1RRKqQ

— 혜민규 (@uygnim) 12. Juni 2018

Sources: X-Sports News, Seoul Kyeongjae, news1 via soompi, theseoulstory, OH_mes, uygnim

Comments

More info

[juhli.livejournal.com]

- Stone Music Ent (a subsidiary of CJ) and Pledis are currently labelled as Partners on their website (http://stonemusicent.net/home/?lang=en)
- fromis_9, whose debut was produced by Pledis, is under Stone Music Ent
- In 2014, CJ E&M and Jellyfish did the same thing (https://omonatheydidnt.livejournal.com/12901074.html)

[myrrhcat.livejournal.com]

really hope this will be a good thing for pledis artists and improve their shitty management