[Asia Economy Reporter Kang Nahum] Kakao Entertainment is accelerating efforts to strengthen its competitiveness in music and video content businesses by partnering with the entertainment agency 'Antenna,' which houses talented artists.
Kakao Entertainment's M Company announced on the 12th that it has signed a contract to acquire a portion of Antenna's shares and has made a strategic investment including this acquisition.
Through this, Kakao Entertainment and Antenna will establish a partnership to jointly discover and nurture artists across various music genres, as well as continue close collaboration in Kakao Entertainment's music and video content businesses.
Antenna, led by CEO Yoo Hee-yeol, represents skilled musicians such as Jung Jae-hyung, Lucid Fall, Peppertones, Jung Seung-hwan, Kwon Jin-ah, Sam Kim, and Jeok Jae, who possess unique musical identities and outstanding capabilities in composing, producing, and vocals.
Kakao Entertainment expects to create synergy through this partnership with Antenna, further expanding the genres and scope of its music business. In particular, the goal is to generate new synergy in video content businesses, including dramas and films promoted by Kakao Entertainment, as well as KakaoTV original variety shows and dramas, together with Antenna's artists.
Antenna has also secured stable capital and systems through this investment attraction. It plans to support artists to focus more on their music activities and concentrate on discovering and nurturing artists across diverse genres.
A representative from Kakao Entertainment stated, "Based on this partnership with Antenna, we will further strengthen the competitiveness of our music and video content businesses through newer and more diverse attempts."
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