VT GMP Becomes Cube Entertainment’s Largest Shareholder
Cube Entertainment has been acquired by KOSDAQ listed company VT GMP.
Cube Entertainment manages artists and actors such as BTOB, PENTAGON, (G)I-DLE, and more. On February 21, it was disclosed that VT GMP acquired 30.61 percent of Cube Entertainment shares for $29.1 billion won (approximately $24.1 million), changing Cube’s largest shareholder from iHQ to VT GMP.
Cube’s CEO Hong Seung Sung shared on his personal Twitter account, “Cube has teamed up with an impressive partner so that we can take more powerful leaps. By making up for and filling in each others’ needs, we will work to become a continuously shining Cube Entertainment.”
큐브 엔터테인먼트 홍승성입니다.
큐브가 더 힘찬 도약을 위해 훌륭한 파트너와 함께하게 되었습니다.
서로에게 필요한 부분을 채워줌으로써 더욱
빛나는 큐브로 거듭날 수 있도록 노력하겠습니다.
— hongseongsung (@hongcube) February 21, 2020
Cube Entertainment was most recently a subsidiary company under iHQ, which is an affiliate of cable TV company D’LIVE.
Last year, VT Cosmetics merged with GMP, becoming VT GMP, a cosmetics and media commerce company.