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Loen Entertainment takes over majority stake in Starship Entertainment for 15 billion won

By alim17   Wednesday, December 18, 2013   46,566   1,313   144

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As the process for this acquisition was reported back in November, it comes as no surprise that Loen Entertainment has successfully taken over a majority stake in Starship Entertainment, which is known for having popular artists such as SISTAR, K.Will, and Boyfriend.  


While the amount of about 14 billion won (~ $13 million USD) was the originally negotiated value, it appears that Loen Entertainment has taken over Starship at a slightly higher value of 15 billion won (~ $14.3 million USD).  The money was used to acquire 7,000 shares (70%) of Starship, essentially allowing Loen to take over.


SEE ALSO: Loen Entertainment in the process of buying and taking over Starship Entertainment


After Loen made the public announcement, they reported:


"On December 18, we had a board meeting and decided to invest in 70% of Starship.


After switching to a multi-label system back in September, we reviewed competent agencies as potential objects of investment.  On December 18, we decided to invest in Starship because of their superior competence in content production and artist management as well as potential for continuous growth.


We have high expectations that this investment will provide an opportunity for Loen to improve the competitiveness of its artist management enterprise, enhance the K-Pop business system, and act as a stepping stone for advancing into the global market.


Starship's main management will not be altered, allowing it to maintain its inherent character and operate as an independent label system.  At the same time, we plan on creating a synergy between these two companies through high quality content production and marketing cooperation with Loen's existing labels.


Even in the future, Loen wants to offer extensive opportunities to agencies and producers who are widely competent in continuous production."


Many fans may be relieved to find out that this business acquisition should not greatly affect Starship's unique style, at least according to the above report.  How do you feel about this new business acquisition?  Are you hoping to see some collaborations between Loen and Starship artists?

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Tags:

  1. Boyfriend
  2. SISTAR
  3. K.Will
  4. loen entertainment
  5. starship entertainment

bukonamja Saturday, December 21, 2013

SM C&C can conquer PLEDIS or TS Ent. for merge...

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bukonamja Saturday, December 21, 2013

SM Entertainment is finding another Potential Ent. Company to Merge...

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 1Reply Report Share

tina3256 Thursday, December 19, 2013

This comment has been removed due to violation of our TOS. (Reason: spammer)

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bunai Thursday, December 19, 2013

i agree with this but doesn't with sm-woolim..

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2ne1gen Thursday, December 19, 2013

SM-Woolim now Loen-Starship

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crazy4bigbang Thursday, December 19, 2013

Collabs!!! <3 :P

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tinamina41 Thursday, December 19, 2013

This comment has been removed due to violation of our TOS. (Reason: spammer)

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adihays Thursday, December 19, 2013

as long as the awesomeness of starship still there, i have no problem...

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kpopisthelyfe Thursday, December 19, 2013

As long as the awesome music doesnt change,I'm fine with it.

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realme21 Thursday, December 19, 2013

Starship doesn't earn a lot cause of SUCKY SISTAR PHYSICAL SALES. ;

The money is always on the physical sales.

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kpopisthelyfe Thursday, December 19, 2013

Sistar is their most successful group. So I dont know what you ate talking about&they have millions of fans which proves they dont suck. Unless you just hater then it is very understandable.

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zico10 Thursday, December 19, 2013

@kpopisthelyfe he half right, sistar do really poor physical sales compared to other group - suprising seeing as how they always win on music shows.

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kpopisthelyfe Friday, December 20, 2013

@zico10 yeah he might be half right but there was no need to say they suck cause if they really did suck they wouldnt have so much fans so its whatever now and maybe people are just broke nowadays lol

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star14ever Friday, December 27, 2013

It's not on the money,it's on the popularity and how much the idols enjoy what they are doing.If you did like starship ent. artistes, you would think like I do

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star14ever Friday, December 27, 2013

It's not on the money,it's on the popularity and how much the idols enjoy what they are doing.If you did like starship ent. artistes, you would think like I do

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star14ever Friday, December 27, 2013

It's not on the money,it's on the popularity and how much the idols enjoy what they are doing.If you did like starship ent. artistes, you would think like I do

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 0Reply Report Share

star14ever Friday, December 27, 2013

It's not on the money,it's on the popularity and how much the idols enjoy what they are doing.If you did like starship ent. artistes, you would think like I do

 0
 0Reply Report Share

star14ever Friday, December 27, 2013

It's not on the money,it's on the popularity and how much the idols enjoy what they are doing.If you did like starship ent. artistes, you would think like I do

 0
 0Reply Report Share

star14ever Friday, December 27, 2013

It's not on the money,it's on the popularity and how much the idols enjoy what they are doing.If you did like starship ent. artistes, you would think like I do

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 0Reply Report Share
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