An undisclosed buyer agreed to acquire 50.1% stake in Hearst-Joongang Co., Ltd. from Jcontentree corp. (KOSDAQ:A036420) for KRW 16.2 billion on November 28, 2016. Under the acquisition, Jcontentree corp. will sell 0.11 million shares. The transaction is expected to be completed by December 16, 2016. An undisclosed buyer cancelled the acquisition of 50.1% stake in Hearst-Joongang Co., Ltd. from Jcontentree corp. (KOSDAQ:A036420) on November 28, 2017.