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Photo = Yonhap news |
[Alpha Biz= Paul Lee] KT has expressed concerns that the proposed merger between Tving and Wavve does not align with the value of Tving's shareholders.
During a press conference at the 'KT Group Media Talk' event held at Andaz Seoul Gangnam on Wednesday, KT's Media Division Head, Kim Chae-hee, was asked about the merger. He responded, "In a situation where Wavve’s dominance in broadcast content is diminishing, I question whether the growth direction they aim for through the merger truly aligns with the value of Tving's shareholders."
Kim further commented, "The merger filing for Tving and Wavve is already underway, independently of KT’s stance, and they are already proceeding down that path. In some respects, they are engaging in activities that are similar to the effects of a merger."
He added, "From KT's perspective, our investment in Tving is not just a financial one but a strategic partnership aimed at generating strong synergies across the media business. The initial intent for business cooperation and the value of that partnership seem to have been significantly diminished."
KT’s subsidiary, KT Studio Genie, holds a 13.5% stake in Tving, making it a key shareholder.
Kim concluded, "Regardless of this situation, we are focused on determining our own path and are concentrating on that direction."
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
