South Korea's FTC approves Kakao's 39.87% stake in SM Entertainment, requiring fair music and content supply and 3-year monitoring.
South Korea's Fair Trade Commission (FTC) approved Kakao's acquisition of a 39.87% stake in SM Entertainment, requiring Kakao to supply all competing streaming platforms with music and content fairly and on time. Kakao will also be monitored for 3 years to prevent favoritism towards its streaming platform, Melon. This is the first entertainment-sector merger with FTC-imposed corrective measures.
May 02, 2024
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