Kakao Entertainment to Merge 3 Story Content Subsidiaries
Kakao Entertainment announced on August 14 that it will merge three of its story content subsidiaries — Samyang C&C, Intime, and Pilyeon Management — as part of efforts to strengthen its intellectual property business.
The three companies, all wholly owned by Kakao Entertainment, approved the merger at board meetings on August 12 and plan to complete the process by the end of the year. The merged company will retain the Samyang C&C name CEO Sung-taek Cha will lead the company.
All three companies are content providers specializing in webtoons and web novels, with expertise spanning genres including romance fantasy and martial arts. Their businesses cover content development and production, discovering new creators, publishing, merchandise, and adaptations into live-action works and animation.
Kakao Entertainment said the merger will combine the companies' production capabilities and strengthen their expertise in adapting web novels into webtoons. The company also plans to develop and discover IP across multiple genres with the goal of building new major franchises and strengthening its global IP pipeline.
Sources: Kakao Entertainment's press release
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