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Posted by beansss AKP STAFF Tuesday, April 21, 2020

Fantagio's majority stakeholder sells 31% of shares + all management authority for ~12 million USD

AKP STAFF

According to media outlet reports on April 22, entertainment agency Fantagio may be undergoing management changes after over 31% of the company's shares, as well as full management authority of the agency, was recently sold by its majority stockholder.

Reports claimed that Gold Finance Korea - a Korean branch of Chinese investment agency JC Group and the majority stockholder of Fantagio - recently put up 31.33% of Fantagio's shares plus the company's management authority for sale at 15 billion KRW (~ 12 million USD). 

The shares have since been purchased by advertising and marketing agency GNC Partners, media outlets stated. The contract fee for the purchase was paid back on April 17, and GNC Partners must pay the remaining balance by May 27 to obtain all 31% of Fantagio's stocks plus the agency's management authority. 

Meanwhile, Fantagio was purchased by its former majority stockholder JC Group back in 2016. During this transition, the company's original founder Na Byung Joon was fired from his position as CEO, causing unrest among the company's remaining employees and artists. Fantagio is home to artists such as ASTRO, Weki Meki, Ong Seong Wu, and more. 

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staytiny854 pts Tuesday, April 21, 2020 2
Tuesday, April 21, 2020

I hope this doesn't affect their artists negatively :(

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orafi744 pts Wednesday, April 22, 2020 0
Wednesday, April 22, 2020

This article is missing one important detail - the Chinese CEO has been arrested for illegal fundraising and fraud. I see the change of the main shareholder from Chinese to Korean as a good thing but time will tell.

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