On March 16, integrated contents production company Kakao M announced the acquisition of new shares from a new global investor, Anchor Equity Partners.
The company has received approximately 210 billion KRW (~ 170 million USD) in shares to be used in expanding and developing original contents productions, Kakao M revealed. "The investment will consist of an acquisition of 1,147,974 new shares, allocated by a third party in the form of capital increase with consideration. This marks the biggest investment by a foreign investor in any domestic contents production company of this year," Kakao M added on.
The investor, Anchors Equity Partners, also relayed, "We have decided to go forward with this investment after highly assessing Kakao M's potential for growth in business areas such as digital, screen, and live contents platforms, as well as contents expansion, etc."
Through this opportunity, Kakao M will be seeking to develop new original contents related to music and videos. The first step in this process consists of the building of a new large-scale studio currently in progress, equipped with filming, editing, dubbing, and recording abilities.