RBW Entertainment, which houses artists such as MAMAMOO and ONEUS, is acquiring KARD’s DSP Media. The agency will turn DSP into its subsidiary as per its current business plans. On January 26, RBW Entertainment made an official statement confirming the news. They stated that the decision is taken to expand its business. Moreover, the CEO of RBW shared his motives and objectives regarding his latest plans to take over DSP Media.
DSP Media was established in 1991 by Lee Ho-Yeon. The company enjoyed success through the birth of several Kpop groups, including SECHSKIES, Fin.K.L, KARA, and Click-B. At present, they handle groups and artists such as APRIL, KARD, MIRAE, and Heo Young Ji. It’s evident that DSP has gone from a top Entertainment company to an average one.
There might be specific changes in its profits after getting under the wing of RBW Entertainment.
MAMAMOO’s Agency RBW Acquires DSP Media
On January 26, RBW reported its activity of acquiring DSP media. RBW has obtained DSP Media CEO Choi Mi Kyung’s 39.13 percent share for 9.03 billion won ($7.5 million). The transfer will take place on March 31.
RBW then commented, explaining to the netizens that they plan to acquire a stake of 51 percent and turn DSP Media into a subsidiary. Also, the two will soon sign the SPA [stock purchase agreement] with DSP’s biggest shareholder.
RBW’s CEO Kim Jin Woo said that via this acquisition, they plan to consider the size and speed while preparing for new businesses related to the metaverse: including NFTs [non-fungible tokens] using music IP [intellectual property]. He mentioned that it would be an important opportunity for DSP media, which has experience of 30 years in the industry. Meanwhile, RBW focuses on next-generation branding.
Kim Jin Woo will also be taking over the DSP’s CEO position.
RBW Entertainment is home to MAMAMOO, ONEUS, ONEWE, and PURPLEKISS. MAMAMOO always has the opportunity to be vocal, making them stand out from most Kpop girl groups. Last spring, they also took over WM Entertainment, which manages Oh My Girl, B1A4, and ONF.