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RBW Acquires WM Entertainment | Soompi
WM Entertainment has become a label of RBW Entertainment. On April 7, RBW announced, "We are acquiring WM Entertainment, the agency of groups Oh My Girl,
Per the article:
"RBW Acquires WM Entertainment
Apr 7, 2021
by D. Kim
WM Entertainment has become a label of RBW Entertainment.
On April 7, RBW announced, “We are acquiring WM Entertainment, the agency of groups Oh My Girl, B1A4, and ONF.”
RBW completed a SPA (sales and purchase agreement) with WM Entertainment’s largest shareholder on March 31, acquiring 70 percent of WM Entertainment’s shares and bringing in the company as a subsidiary.
The two companies will now work on creating synergy through close cooperation. .
RBW is home to artists including MAMAMOO, ONEUS, ONEWE, and PURPLE KISS, while WM Entertainment houses artists such as Oh My Girl, B1A4, ONF, and IZ*ONE’s Lee Chae Yeon.
RBW’s CEO Kim Jin Woo commented, “WM Entertainment is a company that has grown quickly in the entertainment industry in Korea and internationally through their capabilities in discover and training artists. As each company has accumulated different know-hows, we will display new synergy while working together. Developing strategic business based on content IP (intellectual property), we will work to lead K-content culture across the world beyond Korea.”
With this acquisition, WM Entertainment will operate as an independent label of RBW and maintain their current management.
Source (1)"
Wow, MMM & OMG now similar to BTS & SVT/NU'EST/Gfriend as subsidiaries' groups with more higher budget/synergies?
@Miracle
Idk if this will affect WM grps similar to HYBE subsidiaries grps like SVT/Gfriend. I'll wait n see. (Not sure if Lee Woo Min, founder n namesake of WM Ent. will still be involved in WM going forward. Wait n see too.)