page contents ​Kakao to merge with music subsidiary for content push – The News Headline

​Kakao to merge with music subsidiary for content push

Kakao, proprietor of South Korea’s hottest chat app KakaoTalk, will merge with its tune subsidiary Kakao M, the firms introduced.

Kakao M — previously Loen Leisure earlier than Kakao purchased it for $1.6 billion in 2016 –services Melon, the rustic’s hottest tune streaming provider.

The merger additional goals to capitalize at the acclaim for the chat app and tune provider. KakaoTalk already has a tune message function and an AI speaker, Kakao Mini, introduced overdue final 12 months.

After the merger, Kakao may even shape a brand new subsidiary that may center of attention on making video content material. It’ll make investments and obtain new companies to develop the corporate right into a content material and highbrow belongings energy area, it mentioned.

The merger is predicted to be licensed July five and finished September 1.

Kakao is trying to enlarge in a foreign country. In March it introduced the formation of a blockchain subsidiary that will probably be based totally in Japan.

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