Beyond Music to acquire FNC Investment for KRW 47bn
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- $32m
- Stake
- —
- Implied 100%
- —
- Revenue
- —
- Op. income
- —
- Multiples
- —
- Target
- FNC Investment · Music IP
- Buyer
- Beyond Music · SI
- Seller
- FNC Entertainment
- Structure
- —
- Announced
- Mar 14, 2022
- Closed
- —
- Stage
- Announced
Target
FNC Investment, a unit of FNC Entertainment, is a music-rights management company holding neighbouring rights to some 400 chart-topping tracks, including OSTs for the dramas 'Hotel Del Luna' and 'Moon Lovers: Scarlet Heart Ryeo'.
Deal rationale
Beyond Music CEO Lee Jang-won said acquiring proven drama OSTs and other music IP would expand the company's portfolio, with a goal of becoming Asia's largest IP investor at KRW 1tn scale within the year. The deal was reported as the purchase of KRW 23bn of common shares from FNC Entertainment and about KRW 24bn of convertible bonds from Dreamus Company (total KRW 47bn for 100%). Dreamus said it would invest KRW 20.3bn in Beyond Music's third-party placement and become exclusive distributor of Beyond Music's catalogue under a strategic partnership.
Press coverage
- 매일경제 (2022-03-14): “비욘드뮤직, FNC엔터 산하 FNC인베스트먼트 인수…470억 규모”
- 한국벤처캐피탈협회 M&A 뉴스레터 (2022-04): “FNC엔터 산하 FNC인베스트먼트 인수…470억 규모”
- 넥스트유니콘 (2022-03-16): “FNC엔터테인먼트가 보유한 FNC인베스트먼트 보통주 230억 원어치와 음원 플랫폼 플로(FLO) 운영사 드림어스컴퍼니가 보유한 약 240억 원 규모 FNC인베스트먼트 전환사채(CB)를 각각 인수”
- 머니투데이방송(MTN) (2022-03-14): “FNC 인베스트먼트 전환사채를 비욘드뮤직에 양도하고”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.