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​Kakao to merge with music subsidiary for content push

Kakao, proprietor of South Korea’s hottest chat app KakaoTalk, will merge with its track subsidiary Kakao M, the corporations introduced.

Kakao M — previously Loen Leisure prior to Kakao purchased it for $1.6 billion in 2016 –services Melon, the rustic’s hottest track streaming provider.

The merger additional objectives to capitalize at the approval for the chat app and track provider. KakaoTalk already has a track message characteristic and an AI speaker, Kakao Mini, introduced past due final 12 months.

After the merger, Kakao may also shape a brand new subsidiary that may center of attention on making video content material. It’ll make investments and procure new corporations to develop the corporate right into a content material and highbrow assets energy area, it mentioned.

The merger is anticipated to be licensed July five and finished September 1.

Kakao is making an attempt to increase out of the country. In March it introduced the formation of a blockchain subsidiary that will likely be based totally in Japan.

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