IU's agency Loen Entertainment is pushing forward with the acquisition of SISTAR's agency Starship Entertainment according to a report from the Korea Economy.
Following the investment banking and entertainment industries on November 22, the largest stockholders of Starship Entertainment, President Kim Si Dae and director Seo Hyun Joo, are in the midst of finishing up the acquisition negotiation. Both parties do not have largely different views on the terms of sale, so it appears they will enter into a formal contract some time next month.
President Kim and Director Seo possess most of the stock for Starship Entertainment. They are currently discussing more or less of 14 billion won (~ $13 million USD) as the value for the takeover of management rights and more.
While Starship Entertainment has artists such as SISTAR, K.Will, and Boyfriend, Loen Entertainment has their own artists in IU, Zia, Sunny Hill, and more.
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One rep from an entertainment company said, "Starship Entertainment is one of the nation's entertainment companies with the highest business profit ratio . . . Loen Entertainment, which had sought a plan to create a synergy by taking over small and medium entertainment companies, has pointed to Starship Entertainment . . . It appears highly likely that the flow of large entertainment companies taking over small and medium companies with famous singers will continue for the time being."
Tip: Rya
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