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 música content provider in Korea. Amongst the international community, it is mostly known for its use por fans to purchase digital música and streaming passes to support their favorito! musicians on música shows. Kakao plans to use the acquisition to add música 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 música platform with social-media based services.
What do tu think of the acquisition?
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MelOn is the biggest música content provider in Korea. Amongst the international community, it is mostly known for its use por fans to purchase digital música and streaming passes to support their favorito! musicians on música shows. Kakao plans to use the acquisition to add música 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 música platform with social-media based services.
What do tu think of the acquisition?
Source: link via link