One Hundred plans to secure capital through the M&A with Orbit.
The company aims to resist external pressures through legal actions.
Under the leadership of Chairman Cha Ga-won, One Hundred has embarked on strategic M&A negotiations. On April 17, the company announced that it has entered discussions with marketing tech firm Orbit for a merger. This collaboration aims to defend against hostile takeover attempts and to establish a global partnership.
One Hundred has faced significant management challenges due to organized conspiracies and malicious reports that have undermined its credibility. The company has stated its commitment to resolve outstanding payments for artists by utilizing the capital secured from the M&A process. A representative said, "We will create a sustainable environment where artists can focus solely on their creative work without external pressures."
Legal counsel Hyun Dong-yeop forecasted that these negotiations could mark a pivotal moment in thwarting illegal takeover attempts. One Hundred is also preparing legal actions amounting to 100 billion won against those threatening the company's stability. Meanwhile, Big Planet Made Entertainment and INB100, led by Cha Ga-won, are facing distress due to contract terminations by their artists.
This move not only provides new opportunities for One Hundred but also sends a positive message to both artists and fans. The capital obtained from the merger is expected to be a crucial resource in resolving outstanding payment issues for artists, allowing them to focus on their creative work in a more stable environment.
Moreover, Chairman Cha Ga-won’s decisive stance is likely to resonate positively among fans. A management approach that emphasizes the protection of artists and communication with fans is a critical component in the fandom-driven industry, potentially playing a significant role in rebuilding trust between artists and their supporters.
The legal actions accompanying these negotiations are seen as a tangible measure for One Hundred to resist external pressures. If the company can strengthen its management system through the acquisition, it may ultimately contribute to enhancing its competitiveness in the market.
This article is KOSTAR’s reinterpretation of a story originally reported by TVDaily.
Photo: DB
