Loen Entertainment finalized their decision to purchase a majority stake in A Cube Entertainment.
On Nov. 25, Loen confirmed the company's purchase in a press release.
"We have confirmed our decision to invest in A Cube Entertainment by purchasing a 70 percent share in the company," they said.
Loen then stated their future goals and intentions with the share.
"Through this investment, Loen's production teams, artists, and management will become more competitive in the K-pop business."
Not to be confused with its parent company Cube Entertainment, A-Cube is a subsidiary that manages girl group A Pink and singer Huhgak.
Loen Entertainment's main goal in this investment is to evaluate which artists and production teams have long-term continuous growth potential. A deep analysis of A-Cube is necessary for Loen to complete this step.
However, fans do not need to worry as A-Cube will retain its original management team and maintain operations without interference from Loen.
In addition, A-Cube will benefit immensely with access to Loen's existing music distribution network and production and marketing teams. With Loen's support, both sides will maximize their growth potential by synergistically working together.
Although A-Cube was purchased, Cube Entertainment remains unchanged, as does their roster of artists, which include BEAST, 4minute, BTOB, and CLC.
