Kakao denies rumors of selling Kakao Entertainment
Published: 07 Aug. 2025, 21:17
Internet giant Kakao on Thursday denied rumors that it plans to sell its subsidiary Kakao Entertainment.
“We reviewed potential changes to Kakao Entertainment's shareholder structure but have decided to discontinue the review,” the company said in a regulatory filing.
“We will continue exploring various strategic options to boost Kakao Entertainment's global presence and enhance its business competitiveness,” it added.
It is Kakao's first official response to months of speculations that it had informed shareholders, including Saudi Arabia's sovereign wealth fund, the Public Investment Fund, of its intention to sell management control of Kakao Entertainment.
Kakao Entertainment is a subsidiary of Kakao engaged in web content, music and talent management.
Yonhap
with the Korea JoongAng Daily
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