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General

KT strengthens KT Music with acquisition of KMP Holdings

Wednesday 14 November 2012 | 22:52 CET | News
KT plans to strengthen KT Music in partnership with seven music agencies such as SM, YG, JYP, Medialine, Star Empire, Can Entertainment, and Music Factory. KT has participated in KT Music's KRW 20 billion recapitalisation. KT Music will then acquire digital products that those music agencies have financed and a 100 percent stake in KMP Holdings for about KRW 20 billion. KT also said that the company will strengthen its music service business via the acquisition by accelerating the distribution of virtual goods to the global market.

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Categories: General
Companies: KT
Countries: Korea, Republic of
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