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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