CJ E&M is seeking to own the majority of the stocks in Pledis Entertainment.
Insiders reported that CJ E&M (the parent company to much of K-pop, including Mnet) is currently discussing methods to acquire 51% of Pledis Entertainment, which is home to artists such as Seventeen, NU'EST, Han Dong Geun, PRISTIN, and more. Currently, 50% of Pledis Entertainment is owned by CEO Han Sung Soo, while the other 50% is owned by Japan's So-Net Entertainment. The label is currently valued at around 50 billion KRW (approximately 46.5 million USD).
CJ E&M confirmed, "It's true that we are currently seeking to acquire Pledis Entertainment stocks. However, we are still conferring over the details."