Microlithography Times & Tencent invested US$85 million in YG Entertainment, ranking as the third and fourth largest shareholders

Tencent and Microfilm Times will inject US$30 million and US$55 million into YG Entertainment respectively, obtaining a 4.5% and 8.2% controlling stake, becoming the third and fourth largest shareholders after L Capital, a subsidiary of LVMH Group.

Recently, according to media reports, Tencent and Microfilm Times will inject US$85 million into YG Entertainment, a large South Korean entertainment brokerage company. Tencent and Microfilm Times will inject US$30 million and US$55 million into YG Entertainment respectively, obtaining 4.5% and 8.2% of the controlling stake, becoming the third and fourth largest shareholders after L Capital, a subsidiary of LVMH Group. YG's cooperation with China's SNS giant Tencent Group and Microfilm Era will open up a new situation and further integrate the entertainment industries of China and South Korea

. On May 31, a tripartite signing ceremony will be held at the Grand Hyatt Hotel in Seoul. Liang Minxi, representative director of YG Entertainment, Suman Wang, general manager of Tencent's Film and Television Drama Department, and Lin Ning, CEO of Microfilm Era, will attend the signing ceremony.

YG Entertainment said: YG has maintained an annual growth rate of 30% in the past 10 years. In order to maintain this achievement, expanding the China market is an imperative task. In the past year, YG has been actively seeking suitable partners, and finally became a cooperative alliance with Tencent and Microfilm Era. In the future, we will establish a cooperative company in China to provide YG's artists with more opportunities for activities in China, explore and cultivate new people in China, and strive to enter the China entertainment market.

Tencent also said: This signing has brought closer cooperation between QQ Music and YG Entertainment. Tencent has a large user base and multiple online platforms. In addition to music, it also hopes to join hands with YG to develop more entertainment fields. Tencent is one of the largest integrated Internet service providers in China, with 650 million users. It signed a strategic agreement with YG Entertainment two years ago.

The lithography era said: The main business of the lithography era is online ticketing. The company has developed rapidly and has become a pioneer enterprise in China's entertainment industry in just two years. The cooperation between lithography era, Tencent and YG will bring multiplied value and effect.

Editor: yvonne