Netflix Worldwide Production, LLC cancelled the acquisition of 5% stake in Studio Dragon Corporation from CJ ENM CO., Ltd..
November 21, 2020
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Netflix Worldwide Production, LLC signed a contract to acquire 5% stake in Studio Dragon Corporation (KOSDAQ:A253450) from CJ ENM CO., Ltd. (KOSDAQ:A035760) on November 21, 2019. Under the terms, 1.4 million shares of Studio Dragon Corporation will be acquired. CJ ENM will hold 18.6 million shares in Studio Dragon Corporation post disposal and the stake would reduce from 71.2% to 66.2%. The Board passed resolution on the transaction on November 21, 2019. The transaction is expected to close within one year from November 21, 2019.
Netflix Worldwide Production, LLC cancelled the acquisition of 5% stake in Studio Dragon Corporation (KOSDAQ:A253450) from CJ ENM CO., Ltd. (KOSDAQ:A035760) on November 21, 2020.
Studio Dragon Corp is a Korea-based company mainly engaged in the broadcast video production business. The Company is engaged in producing dramas and organizing them for broadcasters, and the distribution business in domestic and overseas. In addition, the Company is engaged in the businesses such as indirect advertisements generated by sponsoring drama props, related digital video discs (DVDs), original sound tracks (OSTs), merchandiser (MD) products, and management.