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Kakao acquires 76.4% stake in Loen for KRW 1.87 trillion

2016-01-11 09:25:00| Telecompaper Headlines

(Telecompaper) Mobile messenger operator Kakao has agreed to acquire a 76.4 percent stake in Loen Entertainment, provider of MelOn, for KRW 1.87 trillion. Loen Entertainment is a Korean music download and streaming platform provider. The acquisition is expected to provide Kakao with key assets to create new content platforms and expand into global markets by using Kakao's mobile platforms and Loen's music content.

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Category:Telecommunications

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