MAMAMOO, ONEUS, & PURPLE K!SS Now Labelmates With APRIL & More, As RBW Acquires DSP Media!
To the surprise of netizens and K-pop fans, RBW is about to make DSP Media a subsidiary under them!
As of writing this article, today on the 26th of January, RBW officially confirmed via an announcement that they had acquired a controlling interest in DSP Media. An insider from RBW explained, "This is a decision we made in order to expand our business."
K-pop label RBW has gone on to acquire CEO Choi Mi Kyung's 39.13& stake in the DSP Media company for 9.03 billion won, which is around $7.5 million, and that the transfer will occur on the 31st of March.
As per RBW, they plan to acquire a stake of over 51% of DSP Media and turn the K-pop label into a subsidiary. RBW will soon be signing an SPA, a stock purchase agreement, with the largest shareholder of DSP Media.
DSP Media is known for the legendary K-pop artists SECHSKIES, Fin.K.L, KARA, and Click-B. At present, the label has the K-pop artists APRIL, KARD, MIRAE, and Heo Young Ji under their agency.
Notably, RBW is home to the K-pop artists such as MAMAMOO, ONEUS, ONEWE, and PURPLE KISS. The entertainment label also previously acquired WM Entertainment, the label home to K-pop artists Oh My Girl, B1A4, and ONF in April of last year.
RBW CEO Kim Jin Woo, who will be the new CEO of DSP Media as well, explained, "Through this acquisition, we will now be able to account for both size and speed as we prepare to launch new businesses related to the metaverse, such as NFTs [non-fungible tokens] using music IP intellectual property. This will be an important opportunity for DSP Media, a company with over 30 years of history, as well as RBW's next-generation branding."
Stay tuned for more news and updates regarding your favorite K-pop artists!