The domestic representative video content studio HighGround has merged with the comprehensive entertainment media corporation TV Chosun E&M (hereafter TV Chosun E&M) and is exploring the utilization of domestic and global IP.
On the 10th, HighGround announced that it had merged with TV Chosun E&M and changed its name to 'TME Group'.
The two companies signed a merger contract outlining these details on April 18 and held a shareholders' meeting on the 25th of the same month to give final approval for the merger. The merger date is June 1.
TME Group will maximize synergy based on the core capabilities of both companies after the merger, and to achieve stable management and increase revenue, Ahn Seok-jun, who serves as the CEO of the former TV Chosun E&M, will take on the role of the CEO of the merged company.
This merger was pursued to build an integrated content hub by combining both companies' organizational resources and capabilities for media content, thereby gaining differentiated competitiveness. The new name 'TME Group' stands for 'Total Media Entertainment Group' and reflects the image of an IP-focused studio encompassing various genres of content, including drama, film, music, and entertainment. Specifically, the 'T' signifies Total, Transformative, Talented, and Trend, emphasizing quick adaptability to trends and comprehensive content production and innovative creative capabilities.
Aiming to be a global comprehensive content corporation, TME Group plans to quickly respond to the rapidly changing media trend environment by combining global content studio formats with various entertainment businesses while actively securing global business opportunities.
Additionally, by broadening the genres of content businesses such as drama, film, entertainment, and music, it plans to maximize synergy in its operation of the OIMU (One IP Multi Use) strategy.
TME Group is expected to generate synergies in ▲ expanding the video portfolio genres such as drama, entertainment, and film ▲ increasing its own video audio IP and related value-added businesses ▲ managing personnel produced through entertainment, drama, and film ▲ pursuing overseas expansion and securing overseas IP through joint ventures with major international businesses ▲ expanding content formats such as short form and AI-related businesses.
Ahn Seok-jun, the CEO, noted, "I will focus on creating synergies based on IP and planning and developing mega IP to launch the first signal as a global comprehensive studio."
HighGround has accumulated production experience across various genres including film and digital content. Its major drama lineup includes significant tentpole works such as 'Our Unwritten Seoul', 'Good Guy', and 'Confidence Man', which are being prepared for broadcast in the major seasons of this year, along with planning developments of its own IP such as 'The Era of the Feminine', 'Awakening', 'The Flower of the Blade', and famous Hollywood IP and popular webtoon original IP. Last year, it successfully completed production of six dramas, achieving a 43% increase in revenue compared to the previous year, and it also turned a profit.
Additionally, TV Chosun's subsidiary TV Chosun E&M is involved in producing entertainment programs such as 'Mr. Trot 23', 'College Song Festival', and 'Mountain and Water', along with the management of over 20 artists including Kim Yong-bin, Jeong Seo-joo, and Kim Yong-im, as well as producing and distributing music IP and handling the overseas sales of TV Chosun's drama and entertainment content.
In particular, the situation is notable for singer Lim Young-woong, who was born through TV Chosun and boasts syndrome-level popularity. There is anticipation about whether an 'Japanese Lim Young-woong' could emerge through IP expansion not only domestically but also globally.
[Photo] Provided by OSEN DB, TME Group.
[OSEN]