Mnet Media and YG Entertainment are now official business partners.
Mnet has acquired 10% shares of YG Entertainment and YG Entertainment and also Yang Hyun Suk have secured a part of Mnet Media, which strengthened the partnership between the two companies.
The agreement between the two has also given Mnet Media the rights to exclusively distribute in Korea and aborad the albums and digital music of YG Entertainment singers.
According to Mnet Media President Park Kwang Won, Mnet Media not only has coverage on YG Entertainment’s music but also in the future its television and concert contents. Moreover, with its partnership with YG Entertainment, Park said that it will enable the two companies to be a music powerhouse in Asia.
Source: Yonhap + krnloop