[THE INVESTOR] KODAQ listed media firm Vidente, which is also known for having more than 10 percent stake in Korea’s leading cryptocurrency exchange Bithumb, will acquire 7.6 percent stake in Korean film distributor TO-WIN Global for 6 billion won (US$5.38 million), according to industry sources on July 10.
The purchase came after Vidente’s financial investors signed a share purchase agreement to acquire 44.74 percent stake in TO-WIN Global in May. Moreover, Vidente’s financial investors and its CEO Kim Jae-wook will acquire convertible bonds issued by TO-WIN Global worth 4 billion won and 3 billion won, respectively.
The biggest shareholder of Vidente is its CEO Kim. He has invested the largest amount, which reaches 41.02 percent in an investment association which owns 13.58 percent shares in the firm. Since Kim is also the CEO of entertainment firm Artist Company, which currently manages over 20 actors including Jung Woo-sung, Ha Jung-woo and Lee Jung-jae, industry sources expect that there will be synergies between the two firms after the acquisition.
According to Vidente, TO-WIN global will change its name to ACOM Studio and also start artist managing business after the deal is completed. Furthermore, the ACOM Studio will be run by Artist Company’s current Executive Director Kim Young-hoon, who is also the brother of actor Ha Jung-woo as well as CEO Kim Jae-wook.
By Song Seung-hyun (firstname.lastname@example.org)