CJ ENM sells its shares of Jellyfish Entertainment, label of VIXX, Gugudan, and VERIVERY

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CJ ENM has sold its shares of Jellyfish Entertainment.

On March 6, CJ ENM announced the entertainment and mass media company had sold 40,396 shares of Jellyfish Entertainment stock for the amount of 1.9 billion Won ($1,598,237.06 USD). Jellyfish CEO Hwang Se Jun is said to have acquired the stocks, which means he now owns 73.53% of the label's shares. The news also means CJ ENM is no longer the majority stockholder of Jellyfish Entertainment after they became a major shareholder in 2017.

In other news, CJ ENM sold 116,000 shares of Hi-Lite Records for 1.044 billion Won ($878,189.21) this past February.

Jellyfish Entertainment is home to VIXX, Gugudan, and VERIVERY.

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Vash_Outlaw1,588 pts Saturday, March 7, 2020 5

Saturday, March 7, 2020

This would interest me more if there was information on a Gugudan comeback. It's been almost 2 years since I've seen them perform on stage together. The closest to having a group comeback they've gotten was at ISAC.

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forgivemenot12,934 pts Saturday, March 7, 2020 0

Saturday, March 7, 2020

If CEO Hwang Se Jun previously held 51% of the shares according to other news outlets that makes him the "majority stockholder" not CJ ENM, they were just a major shareholder.

And the takeaway we can get from this article other than CJ ENM seemingly divesting itself of Kpop companies is the total value of Jellyfish Entertainment which by my reckoning is approximately 8 million USD.

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