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LOEN Entertainment In Talks Of Taking Over Starship Entertainment

LOEN Entertainment is currently discussing a merger and acquisition deal with Starship Entertainment's biggest share holders.

Nov 23, 2013 06:17 AM GMT

LOEN Entertainment, IU's and Brown Eyed Girls' agency, is in the talks to merge with Starship Entertainment, management company of girl group SISTAR.

According to Korea Econoy, the largest stockholders of Starship Entertainment, President Kim Si Dae and Director Seo Hyun Joo, are currently completing a merger and acquisition negotiations. The over-all flow is discussion is going well and there haven't been a lot of disagreement regarding the terms of sale, so it is most likely both parties will enter into a formal contract next month.

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President Kim and Director Seo hold most of the stock shares for Starship Entertainment. Currently, the value for the takeover of management rights will be around 14 billion won (13 million USD).

A representative from a separate entertainment shared a brief analysis of the coming merger. "Starship Entertainment is one of the nation's entertainment companies with the highest business profit ratio. LOEN Entertainment, which had sought a plan to create a synergy by taking over small and medium entertainment companies, has pointed to Starship Entertainment. It appears highly likely that the flow of large entertainment companies taking over small and medium companies with famous singers will continue for the time being."


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