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Korea’s top cinema chains seek merger to counter box office slump

Korea Economic Daily LogoKorea Economic Daily7h ago

Korea’s top cinema chains seek merger to counter box office slump - Korea Economic Daily

Quick Summary:

They will embark on the merger process once it receives approval from the Fair Trade Commission.Lotte Shopping Co.holds an 86.37% stake in Lotte Culture Works, while Contentree JoongAng Corp.owns 95.98% of Megabox JoongAng.“We’ll jointly manage the merged entity for the time being.

South Korea’s two leading multiplex operators Lotte Culture Works Co.and Contentree JoongAng Corp.have tentatively agreed to merge in a bid to counter a prolonged slowdown in the domestic box office, hit by the pandemic and the rise of over-the-top (OTT) streaming platforms.

The two cinema operators have film studios -- Lotte Entertainment Co.under Lotte Culture Works and Plus M Entertainment, a unit of Contentree JoongAng Corp.


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Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-08 @ 21:15:52 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 368 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 28493311

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About Korea Economic Daily

Korea Economic Daily Logo

Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 5 posts per day

Year Established: 1964

Headquarters: South Korea

News Last Updated: 9 hours ago

Coverage Areas: South Korea

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #91

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