News Kakao and Melon announce merger in September (1 Viewer)

[Abeamus]

On July 15, both companies decided on a merger at their respective board meetings. The two companies plan to complete the merger by September 1 after receiving final approval at a general meeting of shareholders on July 30.

Melon, which was spun off from Kakao on July 1, will join Kakao Entertainment in the form of a CIC (company-in-company) in September. Melon Company will also be led by a new CEO, Lee Jae Wook. Even after the merger, Kakao Entertainment will continue to be led by Kim Sung Soo and Lee Jin Soo as CEOs.

The merger ratio between Kakao Entertainment and Melon is 1:7.8367918, meaning that for each common share of Melon, 7.836791 common shares of Kakao Entertainment will be allocated.

Kakao Entertainment stated, “Starting with the merger of Kakao Page and Kakao M and now with the merger with Melon, our process itself is ‘innovation.’ This is only our beginning, and we will build a strong entertainment business value chain and show global growth to become a true world-class leading company.”

Melon stated, “We expect that Melon, which has maintained its No. 1 position since we launched the service, will experience a quantum jump through our strong connection to Kakao Entertainment. We will continue to lead the development of the domestic music industry and grow into a global entertainment company.”

Source​

 

[RandAlThor]

the coalescence continues.

 

[VillageIdiot]

They weren't already?