Stream Media Corporation completed the acquisition of acquire K-Pop Business of S.M. Entertainment Japan, Co., Ltd.
August 31, 2020
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Stream Media Corporation (JASDAQ:4772) agreed to acquire K-Pop Business of S.M. Entertainment Japan, Co., Ltd. on May 29, 2020. Stream Media Corporation will be the surviving company and a new company, SMEJ, Inc., holding the K-Pop Business will be dissolved. The transaction is pending the approval of the shareholders of SMEJ Inc. and Stream Media Corporation. It is expected the transaction to become effective on August 1, 2020. Mitsuhiro Kamiya of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to S.M. Entertainment Japan, Co., Ltd.
Stream Media Corporation (JASDAQ:4772) completed the acquisition of acquire K-Pop Business of S.M. Entertainment Japan, Co., Ltd. on August 1, 2020.
Stream Media Corporation, formerly Digital Adventure, Inc., is engaged in provision of contents business. The Company operates in two business segments. The Rights & Media Communication segments engages in acquisition and commercialization of various rights relating to the drama broadcasting rights and distribution rights of movies, management of artists, operation of fan club and events, as well as sale of products through the Internet and convenience store. The Broadcasting segment is engaged in provision of programs and events at communication satellites (CS) broadcasting. Other business is engaged in contract management business of content distribution and music content business.