Meetzen Acquires 100% of Ghost Studio, Founded by MyName Creator Choi Myung-kyu... "Full-Scale Entry into Entertainment Business"

Mobile casual game company Metuzen held a board meeting on the 21st to resolve the acquisition of 100% of the management shares of entertainment company Ghost Studio, and announced on the 21st that it plans to change its company name to ‘Ghost Studio’ after an extraordinary general meeting of shareholders in early October.

In this M&A, out of the acquisition price of 32 billion KRW, 12.4 billion KRW will be paid in cash, and 19.6 billion KRW will utilize about 1.6 million treasury shares purchased in four rounds since 2021 after the listing in August 2020.

Metuzen will incorporate Ghost Studio as a 100% wholly owned subsidiary. Taking this name change as an opportunity, it plans to strengthen its competitiveness in the comprehensive entertainment sector. Beyond the game and webtoon businesses, it aims to expand the K-content business covering drama production, celebrity management, and more, stepping up as a global comprehensive entertainment company.

Ghost Studio is a comprehensive content production company founded by CEO Choi Myung-kyu, known as the producer of the Netflix series My Name. Ghost Studio currently works with 44 actors, including famous actors such as Joo Won, Lee Da-hee, Kim Ok-bin, Kwon Na-ra, Kim Sung-oh, and Park Joo-mi, as well as many acclaimed actors like Cha Joo-young from Netflix’s The Glory, Ryu Kyung-soo from the Netflix film Jung-E, and Eom Moon-seok from the blockbuster film The Outlaws 2. In addition to the management business, it produces various genres of content tailored to the diversified platform and content distribution market environment, including drama production and webtoon business.

Son Chang-wook, chairman of Metuzen, said, “Through this M&A, Metuzen will vigorously leap forward as a global comprehensive entertainment company by directly producing various global K-content such as dramas and movies under the name of Ghost Studio, in addition to the game and webtoon businesses.”

Choi Myung-kyu, CEO of Ghost Studio, said, “I am very pleased to expand global business in line with Metuzen and the K-content industry,” and added, “Based on a strong trust relationship with our affiliated actors, we will continue active management business and strive to produce drama and movie content in various genres.”