U-Next, CJ ENM and TBS to Form Joint Venture for Content Development Expansion

MT Newswires Live

02/27

Content distribution services provider U-Next (TYO:9418) signed a deal with South Korea's CJ ENM (KOSDAQ:A035760) and fellow Japanese firm TBS (TYO:9401) to set up a joint venture focused on content planning, intellectual property development, and investment.

The joint venture will be established in April with a capital of 1.25 billion yen and headquartered in Tokyo, according to a Tokyo bourse filing on Friday.

CJ ENM will hold a 51% majority stake of the joint venture, while TBS and U-Next will own 40% and 9%, respectively.

The partnership aims to strengthen U-NEXT's content lineup by using CJ ENM's global hit production expertise and TBS's strong capabilities in drama and variety programming, the filing said.

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