J Contentree increases stake in JTBC Studios JKL Partners invests 100 billion won in J Contentree
Translated by Kim So-in 공개 2021-05-03 07:46:17
이 기사는 2021년 05월 03일 07:41 thebell 에 표출된 기사입니다.
South Korea’s media company J Contentree has strengthened its control over its content distribution subsidiary JTBC Studios.J Contentree will receive a 6.4% stake in JTBC Studios from its parent JoongAng Holdings through a rights offering, industry sources said on Thursday.
This investment is aimed at strengthening influence on the company and increasing efficiency. JTBC Studios raised total 400 billion won ($360 million) from Praxis Capital and Tencent in a deal which valued the company at 1.2 trillion won.
Praxis Capital became the second largest shareholder of JTBC Studios with a 19% stake. J Contentree has seemingly increased its stake in JTBC Studios to defend its managerial rights as the large-scale fundraising from outside investors will lead to a share dilution.
J Contentree also merged its wholly-owned subsidiary Joins JoongAng, a media contents company which has showed mediocre performance over the last two years.
Separately, J Contentree issued 100 billion won worth of zero-coupon convertible bonds to private equity firm JKL Partners.
Megabox JoongAng, which is owned by J Contentree, was hit hard by the pandemic last year, like other movie theaters around the country. It recorded an operating loss of 68.2 billion on revenue of 104.5 billion won, which was down 68% year-on-year.
Instead, the value of JTBC Studios has sharply increased. JKL Partners has made the latest investment to capitalize on J Contentree’s competitiveness in contents amid increasing interests of intellectual property. (Reporting by Se-hun Jo)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
best clicks
최신뉴스 in 전체기사
-
- 경남제약 품는 휴마시스, 유통네트워크·진단키트 '시너지'
- [Company Watch]글로벌텍스프리, 프랑스 자회사 '적자 전환'
- [Red & Blue]'주목도 높아지는 폐배터리' 새빗켐, 침묵 깨고 반등
- [HLB '리보세라닙' 미국 진출기]시장 우려 불식 나선 진양곤, 갑자기 마련된 기자회견
- 효성화학 특수가스 사업부, '경영권 지분 매각'으로 선회
- 한양, 만기도래 회사채 '사모채'로 차환한다
- 동인기연, 'GS 출신' 30년 베테랑 전호철 상무 영입 '성장 방점'
- 에스트래픽, 적자 '일시적 현상'... 2분기 수익개선 기대
- [Company Watch]'자회사 회생신청' 투비소프트, 성과 없는 신사업
- '크라우드 펀딩' 와디즈, '테슬라 요건' 상장 추진