Kakao Leisure acquires shares in Antenna Music

Kakao Entertainment announced on Wednesday that it has acquired a portion of Antenna Music’s shares. [EACH COMPANY]

Kakao Entertainment announced on Wednesday that it had acquired a portion of Antenna Music’s shares.

The record label Antenna Music was founded in 1997 by singer and songwriter Yoo Hee-yeol and manages many artists such as Lucid Fall, Kwon Jin-ah, Sam Kim, Lee Jin-ah, Jung Seung-hwan and Jukjae.

“We have signed an agreement to acquire part of Antenna shares and made a strategic investment,” Kakao Entertainment said in a statement. The statement added that both the company and the record label plan to discover and nurture artists from a variety of music genres and will continue to work closely together to develop music and video content companies.

Antenna Music also released a statement stating that “this will be an opportunity to steadily expand into various genres of the music industry that are heavily focused on pop music, and create an environment where singer-songwriters can be more stable.” can.”

Kakao Entertainment added that it will efficiently operate its various affiliated labels such as Starship Entertainment, Play M Entertainment, Cre.Ker Entertainment and EDAM Entertainment “so that each label can maintain its unique musical color”.

BY YIM SEUNG-HYE [yim.seunghye@joongang.co.kr]

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