In 1978, Seoul Records, a record company, was established in Seoul as a subsidiary of YBM (a company specializing in cassette tapes for language learning).

In 1999, the company began selling albums and in 2000 changed its name to YBM Seoul Records and listed it on Kosdaq.

In 2005, SK Group acquired 60% of the company's shares and became its largest shareholder, and the company has since joined the SK family.

In 2008, YBM Seoul Records changed its name to Loen Entertainment, and SK Group merged its online music service platform Melon into Loen, the largest online music service platform in Korea, and held a physical awards ceremony since 2009, the Melon Awards.

In 2013, SK Group sold 52.56% of its stake in Loen Entertainment to Star Invest Holdings, an investment fund owned by Affinity Equity Partners, for 265.9 billion won, and Star Invest Holdings acquired streaming service Realworks, Inc. for 8.83% The controlling shareholder of LONE was changed from SK Group to Star Invest Holdings.

In fact, the relationship between Affinity Equity Partners and SK Group is unclear, a bit like a left-handed hand-to-right.

Later, Loen reorganized the company into a company with two labels, "Loen Tree" and "Collabodadi", which focused on artist management and content production.

Also in 2013, Loen acquired a 70% stake in Starship Entertainment for 15 billion won. The latter has Sistar, Boyfriend and other groups and artists, and cooperates with Lehua Entertainment to launch a new girl group.

In May 2015, Starship acquired all the shares of actor agency King Kong, which owns artists such as Kim Beom, Lee Dong Wook, Lee Kwang-so, and Kim Ji Won.

At present, the market capitalization of LOEN is about $1.6 billion, far exceeding the three companies, JYP and YG.

.w's competitor, Daum Kakao, was formed by the merger of the second-largest portals, Daum and Kakao, and the media interpreted it as a response to a dominant Naver and Azubu Games. It did have a big impact on Naver, and on the day the news broke, Naver's stock price fell, and its market value evaporated by more than 1 trillion won.

However, Naver's search market share on the PC side is still dominant, exceeding 77%, while DAUM's market share has dropped to less than 20%. Kakao is still being suppressed by Azubu Games in the mobile game space, and the newly formed Daum Kakao has not been able to develop a new revenue model.

This acquisition of Loen is Daum Kakao's preparation to enter the entertainment industry.

Unexpectedly, .w also joined, or MY investment, anyway, it is Park Zhixun's industry.

Daum Kakao approached Loen first, and both parties were inextricably linked to SK Group, or simply SK Group was behind the scenes to promote the acquisition, and did not care about the .w disruption.

However, I didn't expect that Park Ji-hoon somehow got through the relationship between the upper echelons of SK, and he really succeeded in snatching the food!

Although he told Yuli that night that he was "not sure yet", he had actually negotiated and was ready to complete the deal by 2016, and then announce it on January 1, 2016.

Try to avoid all hassles.

The forces of the Daum Kakao faction were naturally dissatisfied, but they had no choice but to tell the news to the media as if they were angry.

Hence this report.

In fact, the people within SK Group who facilitated the acquisition were also helpless, because it was not their original intention, but was directly ordered by Chairman Chey Tae-won. As we all know, Korean conglomerates have always belonged to major families, and the Choi family is behind SK Group.

In 2012, despite the opposition to the acquisition of Hynix's shares, Chey Tae-won has significantly increased his investment in the semiconductor business, and in August this year, the world's largest M14 semiconductor plant was completed in Icheon, Gyeonggi-do. Relatively speaking, a small Loen Entertainment company is not in his eyes, and Park Ji-hoon's favor is more important.

What's more, Park Ji-hoon is not an empty glove white wolf.

In 2015, the market value of Loen was about $1.5 billion, and Park Ji-hoon acquired a 76.4% stake in Loen from SK for 1,874.3 billion won, or about $1.6 billion.

Otherwise, SK Group would not have agreed.

Of course, Park Ji-hoon is not wronged, and this offer includes Loen's property, equipment, etc. Among them, Loen's office building in Samseong-dong is expensive.

Samseong-dong is located next to Nonhyeon-dong and Cheongdam-dong, where stars such as Song Hye Kyo, Jun Ji-hyun, and Kim Tae-hee live, not to mention that Loen's office building is located in Tehran-ro, which is known as the "center of Gangnam-gu".

At the same time, it is also important to inherit LOEN's channels and connections, many of which are related to SK Group, and it is not possible to build all of them into their own network in the short term.

Therefore, after the acquisition, there is no intention of merging Loen and .w in the short term, and it still maintains independent operation and adopts the method of cooperation and gradual penetration.

Overall, it was a deal that was satisfactory to both parties.

During the whole process, Park Ji-hoon just nodded his head and negotiated with Choi Tae-won. From the discovery of the deal to the interception, it was a decision made by the secretary's office. The secretarial office is not just collecting information, the industrial layout and future strategy are discussed and decided by the secretarial office, so he is very clear about his strategic direction in the entertainment industry.

......

After the media exposed, this news immediately became a hot topic of discussion among the people.

It's not just because .w acquires loen and knows that my investment is Park Ji-hoon's industry, the media reports like this, and the people talk about it like this, anyway, it's just the difference between left-handed and right-handed that Park Ji-hoon used to be an artist under Loen!

This kind of story of employees buying their old employers is undoubtedly a script that many people like to read.

Not to mention netizens and the people, even Yoona and others are discussing in the group, and Park Ji-hoon has been there several times.

What they are even more curious about is what kind of transaction is the negotiation that Park Ji-hoon said "why will it take months"?

Although the acquisition of Loen is also a big move, it obviously does not need to go to Hong Kong and Finland, and according to official reports from .w, negotiations have also been concluded, and the official deal will be completed within this month.

After being exposed by the media, .w took the initiative to disclose the progress on the official website.

Of course, the heat should be kept for your own home.

It added another fire to the movie "The Insider".

Many reporters went to interview Park Ji-hoon, and Park Ji-hoon basically only appeared at the scene of movie promotion and audience appreciation activities during this time. Park Ji-hoon basically doesn't hold fan book signings, so the audience appreciation meeting for each work has become the scene for him to communicate with fans.

On December 14, "The Insider" completed 4 consecutive championships, with a cumulative number of viewers exceeding 6 million, achieving a double harvest of box office and word of mouth.

And, on this day, .w officially unveiled the promotional poster and new trailer for the director's cut of "The Insider".

With more and more audience proposals, .w has decided to release the director's cut version of "The Insider" on December 31.

Also on this day, after the concert in Japan, Yu Li, who suddenly became idle, went to .w's agency in Cheongdam-dong alone to meet the "Du Miao" trainee.