CJ E&M And BigHit Entertainment Join Forces To Make New Idol Group

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Two big Korean entertainment companies are joining forces – and we’re excited to see what awaits us!

On August 1, CJ E&M shares more information about their joint venture with one of the entertainment companies taking the world by storm – BigHit Entertainment!

“We and Big Hit Entertainment have agreed to establish a joint venture company, which is still in the process of discussing detailed procedures such as stakeholding and direction,” CJ E&M officials say in a statement regarding the two companies’ collaboration.

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According to them, a plan to introduce a new entertainment company which will establish and train a new idol group is currently being discussed. However, they note that it would be difficult to reveal further details and informations as of the moment.

Photo from BigHit Entertainment

Albeit not being a part of the Big 3, both CJ E&M and BigHit have huge influences in the current Korean entertainment and media industry.

CJ E&M is known for producing various contents like broadcasts and music audition programs like Idol School and Produce 48 series while BigHit Entertainment had rocked the global market with their world-famous boy group BTS.

Cj e&m

Photo from CJ E&M

Because of this, the joint venture is expected to have a significant influence on domestic and international K-Pop markets.

It was earlier reported on July 31 that the companies submitted a mergers and acquisition registration to the Fair Trade Commission for their joint venture. The shared entertainment company was reported to be tentatively named Belief.

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The news created a lot of buzz in social media after the initial report saying CJ E&M and BigHit will split the shares 51-49 percent respectively was released. However, the division of shares are still subject to change until further notice.

What are your thoughts about this joint venture? Let us know by leaving a comment below, giving us a holler on Facebook, or tweeting us at @hellokpop!