KH Media Completes Acquisition of iHQ... Launching a New Growth Engine

[Asia Economy Reporter Hyungsoo Park] KH Media announced on the 26th that it has completed the acquisition process of iHQ, the content division subsidiary of comprehensive cable TV operator (SO) D'Live.

To acquire iHQ, KH Media paid a deposit of 10.9 billion KRW on December 17 last year and paid the remaining 99.6 billion KRW the day before. KH Media is a company jointly established by the Sambon Electronics consortium, including Sambon Electronics, EXT, and Jangwon Tech. It is promoting new global content and entertainment businesses. Going forward, it plans to strengthen original content and focus on developing digital content to leap into a global company. It will significantly expand investments to help iHQ become a world-class content company.

KH Media plans to nurture iHQ into a world-renowned entertainment powerhouse. A company official explained, "We have established a three-pronged strategy for iHQ's global growth: strengthening original content development, activating global networks, and revitalizing new digital channels."

They added, "iHQ plans to strengthen original content through the five channels it currently owns" and "will produce various new in-house content such as variety shows, travel, dramas, and K-pop."

iHQ will leverage its strategic partnership with A&E Networks, jointly invested by Disney and Hearst Corporation, to activate co-productions and significantly expand content. It has set a plan to release more than 120 TV series, movies, dramas, and reality programs annually. Utilizing A&E Studios, a major channel operator subsidiary of A&E, iHQ aims to service its content to 335 million households across more than 200 regions worldwide.

An iHQ official stated, "Through collaboration with A&E, we can supply A&E's in-house produced content at a low cost," adding, "Co-productions will also enable us to produce killer content, and we expect an increase in advertising revenue through A&E channels."

Jungsik Kang, CEO of KH Media, emphasized, "iHQ is one of the companies with history and content in the domestic entertainment industry," and said, "We will spare no investment to ensure iHQ's global potential is re-evaluated."