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Kakao Entertainment (photo courtesy of Yonhap News) |
[Alpha Biz= Paul Lee] Kakao Entertainment (Kakao Ent) has once again denied rumors surrounding a potential sale of the company.
According to industry sources, Co-CEO Kwon Ki-soo addressed the speculation during an internal town hall event called "N-Talk" held on June 20 at the company's Pangyo office. He stated, "The sale rumors stemmed from misunderstandings related to changes in financial investors and shareholdings. I want to reiterate that they are completely unfounded."
Kakao Entertainment's leadership had already issued a statement in April via the company’s internal bulletin board, firmly denying the sale speculation.
Kwon also touched on speculation regarding a potential spin-off of the webtoon and web novel business, and a possible merger with Kakao Piccoma. Recent investment banking industry chatter suggested that Kakao Entertainment may split its story content and music/video divisions for a potential separate sale.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
