As of January 11, communications giant Kakao Inc. has acquired a 76.4 percent stake in Loen Entertainment, the company behind MelOn, for 1.87 trillion won (approximately $1.56 billion).
MelOn is the biggest musique content provider in Korea. Amongst the international community, it is mostly known for its use par fans to purchase digital musique and streaming passes to support their favori musicians on musique shows. Kakao plans to use the acquisition to add musique streaming to its already numerous services (including messaging, games, and even as a payment platform). Meanwhile, Loen plans to use the funds from the acquisition to further expand its musique platform with social-media based services.
What do toi think of the acquisition?
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MelOn is the biggest musique content provider in Korea. Amongst the international community, it is mostly known for its use par fans to purchase digital musique and streaming passes to support their favori musicians on musique shows. Kakao plans to use the acquisition to add musique streaming to its already numerous services (including messaging, games, and even as a payment platform). Meanwhile, Loen plans to use the funds from the acquisition to further expand its musique platform with social-media based services.
What do toi think of the acquisition?
Source: link via link