CJ ENM and Big Hit collaborate on a new company

[juhli.livejournal.com]

CJ ENM And #BigHit Entertainment Jointly Establishing New Company https://t.co/Rq7cehZNtC pic.twitter.com/fu3gKgf6mH

— Soompi (@soompi) July 31, 2018

On July 31, it was reported that the two companies are joining forces to launch a new entertainment company.

In response to the reports, CJ ENM commented, “The two sides have completed discussion for the joint company establishment, but several procedures still remain.”

According to the reports, the companies submitted mergers and acquisition registration to the Fair Trade Commission for their joint entertainment company, tentatively titled Belief. CJ ENM will hold 51 percent of shares, while Big Hit will hold 49 percent.

The new audition program will focus on discovering new gems, people without an agency. They are also looking to have people from the show debut as a soloist or in a grouphttps://t.co/F5F2pyE0hz

— mes #TeamPinky (@OH_mes) July 31, 2018

Source: @soompi, Xsports News via soompi, Naver via OH_mes

Thoughts on this collab?

Comments

[goshipgurl.livejournal.com]

im confused... so they're not merging but creating a completely new company?

[sub-divided.livejournal.com]

I was gonna say that there are already too many audition programs, but maybe there's space for one that targets mostly international fans.

How do BTS fans on tumblr feel about audition shows? Do they watch Xfactor, Eurovision, Dancing with the Stars? How is this show going to be different from MBC's international audition show, Creativeteen Undernineteen?

[sub-divided.livejournal.com]

What I'm trying to say is, audition programs are pretty mainstream entertainment, but BigHit found an international audience for BTS by targeting a niche audience. I dunno how well this collaboration will work.

[juhli.livejournal.com]

Very interesting that they consider EU!