Wysiwyg Studio and Com2us Studios will not be acquiring Artist Company

It has been reported that the Artist Company, founded by actors Jung Woo Sung and Lee Jung Jae, will not be acquired by Com2uS Group.

Previously, Com2uS Group had decided to acquire Artist Holdings but recently withdrew the decision.

Com2uS subsidiary Wysiwyg Studio announced on May 30th that Com2uS and Wysiwyg Studio had reached an agreement to cancel the investment in acquiring the management rights of the Artist Company. It has been six months since the signing of the investment agreement. Originally, Com2uS and Wysiwyg Studio had decided to invest 25 billion KRW (20.2 million USD) and 80 billion KRW (64.4 million USD), respectively.

Wysiwyg Studio explained the reason for the cancellation of the agreement as “As a result of reviewing and discussing the optimal partnership for strengthening global content business capabilities and expanding the market, it is possible to develop independent competitiveness in each business field rather than a cooperative structure through equity investment. We decided that it would be efficient that way."

Meanwhile, Lee Jung Jae and Jung Woo Sung co-founded the company in 2016 and produced 'Sea of ​​Silence' and 'Hunt.' Recently, 'Hunt' was officially invited to the 75th Cannes International Film Festival, and the two actors were seen on the red carpet showing off their friendship and chemistry.