Loen Entertainment finalized its decision to invest in 70 percent of Starship Entertainment’s shares, or 15 billion won, after holding a board of directors meeting on December 18.
After becoming a multi-label system back in September, Loen Entertainment decided that Starship Entertainment was worth investing in, with its large potential to grow.
With no changes in the primary management, Starship Entertainment will continue to run as an independent label, just as Woollim Entertainment did after its merger with SM C&C, but hopes to have a synergy effect with Loen Entertainment.
“With this recent investment, Loen will boost the competition in artist management businesses and strengthen the K-pop business system. It will also become a steppingstone into the global market,” stated Loen.
Photo Credit: Loen Entertainment, Starship Entertainment
With no changes in the primary management, Starship Entertainment will continue to run as an independent label, just as Woollim Entertainment did after its merger with SM C&C, but hopes to have a synergy effect with Loen Entertainment.
“With this recent investment, Loen will boost the competition in artist management businesses and strengthen the K-pop business system. It will also become a steppingstone into the global market,” stated Loen.
Photo Credit: Loen Entertainment, Starship Entertainment
Text credit: Mwave
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