StarShapedGummy 11,380 Posted January 11, 2016 Share Posted January 11, 2016 Article Credit: http://www.thefiscaltimes.com/latestnews/2016/01/10/Kakao-says-acquire-control-Loen-Entertainment-16-billionBy ReutersKakao said it would buy a 76.4 percent stake in Loen, which owns music streaming service MelOn as well as a talent agency with "K-Pop" artist such as IU, partly by issuing 754 billion won worth of new shares to top Loen shareholders Affinity Equity Partners and SK Planet Co Ltd."The synergy from the acquisition will allow Kakao to generate new demand in the content business by adding music streaming to its existing portfolio of content services," the company said in a statement. Kakao, operator of South Korea's dominant chat app KakaoTalk, is seeking to diversify its business model and reduce reliance on traditional businesses including revenue from mobile games, sale of emoticons and search revenue from its web portal Daum. It recently launched a premium call taxi service as part of those efforts. "This acquisition is the right move from a long-term perspective, because the company is lagging behind Naver in terms of its content offerings," LIG Investment analyst Kim Sung-eun said. Kakao said it would consider raising funds from additional investors if needed to pay for the acquisition. Its shares rose as much as 4.5 percent following the announcement and were up 1.8 percent as of 0050 GMT, outperforming a 1 percent decline for the benchmark Korea Composite Stock Price Index. (Reporting by Se Young Lee; Editing by Richard Pullin and Stephen Coates) Link to comment Share on other sites More sharing options...
˹AS˼ 3,610 Posted January 11, 2016 Share Posted January 11, 2016 Link to comment Share on other sites More sharing options...
a(mber) 5,898 Posted January 11, 2016 Share Posted January 11, 2016 melody day are under loen? why didn't i know this Link to comment Share on other sites More sharing options...
ethereal 20,923 Posted January 11, 2016 Share Posted January 11, 2016 ???? i'm so confused. Link to comment Share on other sites More sharing options...
l�l�� 2,504 Posted January 11, 2016 Share Posted January 11, 2016 so Kakao was bigger than Loen Link to comment Share on other sites More sharing options...
✨ Lunar Miracle ✨ 1,457 Posted January 11, 2016 Share Posted January 11, 2016 Wonder how this will affect things both with MelOn and the groups that are under those companies. Link to comment Share on other sites More sharing options...
removed929393303 15,230 Posted January 11, 2016 Share Posted January 11, 2016 WTF. Idk how to even react to this. Link to comment Share on other sites More sharing options...
Owlsarecool15 2,619 Posted January 11, 2016 Share Posted January 11, 2016 Wow......this is interesting. Link to comment Share on other sites More sharing options...
STORM 7,555 Posted January 11, 2016 Share Posted January 11, 2016 Didn't even know Loen had that many groups Link to comment Share on other sites More sharing options...
✨ Ass Fat ✨ 9,598 Posted January 11, 2016 Share Posted January 11, 2016 WAIT HOW BIG IS KAKAO TO GAIN LOEN? Link to comment Share on other sites More sharing options...
Only 1 U Need Connoisseur 6,671 Posted January 11, 2016 Share Posted January 11, 2016 What else does Kakao own? Daum right? What else. Link to comment Share on other sites More sharing options...
MiaSanMia 6,196 Posted January 11, 2016 Share Posted January 11, 2016 dafuq Link to comment Share on other sites More sharing options...
myreflections 3,232 Posted January 11, 2016 Share Posted January 11, 2016 so now Melon is under KAKAO? maybe they will create a way to vote download from melon via KAKAO what plans does KAKAO have for Leon? why did they acquire it? Link to comment Share on other sites More sharing options...
Astoral 1,427 Posted January 11, 2016 Share Posted January 11, 2016 I didn't know Kakao was that big interesting Link to comment Share on other sites More sharing options...
Only 1 U Need Connoisseur 6,671 Posted January 11, 2016 Share Posted January 11, 2016 Didn't even know Loen had that many groups They are mostly rich from distributing albums I think. They do have a lot of groups though. Link to comment Share on other sites More sharing options...
Little Miss Splendid 638 Posted January 11, 2016 Share Posted January 11, 2016 they wanted the biggest music streaming service of korea .... so they bought melon and leon came included lol Link to comment Share on other sites More sharing options...
DramaticTaeyeon" 2,851 Posted January 11, 2016 Share Posted January 11, 2016 Oh my..... Link to comment Share on other sites More sharing options...
ToujoursSistar 7,681 Posted January 11, 2016 Share Posted January 11, 2016 wtffff !!!! plz invest more in sistar !! Link to comment Share on other sites More sharing options...
Only 1 U Need Connoisseur 6,671 Posted January 11, 2016 Share Posted January 11, 2016 I didn't know Kakao was that big interesting Kakao owns daum it is a very large portal like naver. They have all the fancafes. Link to comment Share on other sites More sharing options...
memejae 1,619 Posted January 11, 2016 Share Posted January 11, 2016 hmm I wonder what this is going to mean Link to comment Share on other sites More sharing options...
odd-eyed 5,564 Posted January 11, 2016 Share Posted January 11, 2016 So.....Kakao now owns MelOn?? I hope this doesn't change streaming too much. Link to comment Share on other sites More sharing options...
mendoan 8,110 Posted January 11, 2016 Share Posted January 11, 2016 wow Link to comment Share on other sites More sharing options...
Astoral 1,427 Posted January 11, 2016 Share Posted January 11, 2016 Kakao owns daum it is a very large portal like naver. They have all the fancafes. oh. daang Link to comment Share on other sites More sharing options...
daok 1,978 Posted January 11, 2016 Share Posted January 11, 2016 well that's interestinf seeing loen owns a lot and has many shares from some companies Link to comment Share on other sites More sharing options...
jaehyun 1,909 Posted January 11, 2016 Share Posted January 11, 2016 I didnt know Kakao is so big Link to comment Share on other sites More sharing options...
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