Melon Company Reportedly Joining Kakao Entertainment Next September
These two big South Korean companies will soon join their forces in the near future.

Through the results of today's meeting, July 15th, 2021, it was reported that Melon Company and Kakao Entertainment will merge on September 1st. This is done after the general meeting of shareholders to be held on 30 July.

The agreed merger ratio is 1 to 7,8367918, whereby for every 1 share of Melon Company, 7,8367918 shares of Kakao Entertainment will be allocated.

”Continuing from the merger of Kakao Page and Kakao M, this merger with Melon Company is itself an innovation and is the only beginning as a global entertainment company. Through this merger, Kakao Entertainment will build a unique and powerful entertainment business value chain that cannot be found anywhere in the world. We will use Kakao Entertainment's equation of success to create a world-class leading company in the global entertainment industry.”‎ explained Kakao Entertainment regarding this merger.

Meanwhile, Melon Company also said that with them continuing to take first place in their field, along with Kakao Entertainment, it is believed that there will be a big leap through the strong bond between the two. “‎We hope to lead the development of the domestic music industry and grow into a global entertainment company with Kakao Entertainment.‎“ (www.onkpop.com)

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