On April 7, RBW Entertainment officially made an announcement that, “We are acquiring WM Entertainment, the agency of groups Oh My Girl, B1A4, and ONF.” On March 31, a SPA (sale and purchase agreement) was completed with WM Entertainment’s largest share holder and this led to RBW acquiring up to 70 percent of WM’s shares, making WM their subsidiary.
MAMAMOO, ONEUS, ONEWE, and PURPLE KISS are under RBW, while Oh My Girl, B1A4, ONF, and IZ*ONE’s Lee Chae Yeon are under WM. With WM becoming a label under RBW, both the companies now aim to creating synergy through close working and cooperation.
CEO of RBW, Kim Jin Woo stated, “WM Entertainment is a company that has grown quickly in the entertainment industry in Korea and internationally through their capabilities in discovering and training artists. As each company has accumulated different know-hows, we will display new synergy while working together. Developing strategic business based on content IP (intellectual property), we will work to lead K-content culture across the world beyond Korea.”
WM Entertainment will henceforth operate as a separate label of RBW and maintain their current management.
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