CJ Hellovision Co., Ltd. (KOSE:A037560) agreed to acquire 88.71% stake in Gangwon Broadcasting Network Company Ltd for KRW 65.4 billion in cash on December 16, 2013. Under the transaction, CJ Hellovision will acquire 0.68 million shares of Gangwon Broadcasting Network Company. For the year 2012, Gangwon Broadcasting Network reported total assets of KRW 27.99 billion, total liabilities of KRW 24.82 billion, net assets of KRW 3.17 billion, sales of KRW 18.22 billion and net profit of KRW 544 million. The transaction is subject to approval from Ministry of Science, ICT and Future Planning and Fair Trade Commission. The transaction has been resolved by Board of Directors of CJ Hellovision Co., Ltd. The scheduled acquisition date is June 19, 2014.

CJ Hellovision Co., Ltd. (KOSE:A037560) completed the acquisition of 88.71% stake in Gangwon Broadcasting Network Company Ltd on June 19, 2014. The deal has received approval from the government authorities and the Fair Trade Commission.