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DSP Media is about to become a subsidiary of RBW. On January 26, RBW officially confirmed that they had acquired a controlling interest in DSP Media, explaining, “This is a decision we made in order to expand our business.” RBW has acquired DSP Media CEO Choi Mi Kyung’s 39.13 percent stake in the company for 9.03 billion won (approximately $7.5 million), and the transfer will take place on March 31. RBW went on to state, “We plan to acquire a stake of over 51 percent of DSP Media and turn [the label] into a subsidiary. We will soon be signing an SPA [stock purchase agreement] with DSP Media’s largest shareholder.” DSP Media, which is known for having produced legendary K-pop artists like SECHSKIES, Fin.K.L, KARA, and Click-B, is currently home to APRIL, KARD, MIRAE, and Heo Young Ji. Meanwhile, RBW houses artists such as MAMAMOO, ONEUS, ONEWE, and PURPLEKISS. The agency also acquired WM Entertainment—home to Oh My Girl, B1A4, and ONF—last spring. RBW CEO Kim Jin Woo, who will also be taking over as the CEO of DSP Media, remarked, “Through this acquisition, we will now be able to account for both size and speed as we prepare to launch new businesses related to the metaverse, such as NFTs [non-fungible tokens] using music IP [intellectual property]. This will be an important opportunity for DSP Media, a company with over 30 years of history, as well as RBW’s next-generation branding.” Source (1) (2) How does this article make you feel?
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