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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] On June 10, the Fair Trade Commission (FTC) granted conditional approval for the corporate merger notification between TVING and WAVVE, two leading K-OTT (online video streaming) services.
If the merger proceeds, the combined monthly active users (MAU) as of May will reach approximately 11.27 million, approaching Netflix’s 14.5 million users. This is expected to enable the new entity to regain leadership in the distribution of K-content while achieving economies of scale and strengthening its bargaining power.
According to industry sources, the FTC’s approval of executive dual appointments between TVING and WAVVE means the companies can now appoint directors across both firms. Last November, CJ ENM and TVING signed an agreement with WAVVE to allow five out of WAVVE’s eight directors—including the CEO—and one auditor to concurrently serve as employees of CJ ENM and TVING. Following this, they filed the merger notification with the FTC.
Industry experts anticipate that, based on this foundation, expanded content investments, service innovations, and strengthened global competitiveness will bring the merger’s synergies to fruition.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
