CJ ENM Invests 100 Billion KRW Equity in KT Studio Genie

[Asia Economy Reporter Hwang Yoon-joo] CJ ENM announced on the 21st that it will acquire a 100 billion KRW stake in KT Studio Genie to strengthen the competitiveness of its channel and OTT business content.

CJ ENM stated, "With this investment, CJ ENM Co., Ltd. and KT Corporation have signed a memorandum of understanding to promote business cooperation in various areas such as music and broadcasting, and plan to proceed by signing a formal contract in the future."