"Genderless group" XLOV will share a home with Mamamoo. RBW, a comprehensive content company, is expected to join forces to actively expand global IP.
On the 11th, OSEN reported that WM Entertainment Co., a subsidiary of RBW, recently signed a comprehensive business transfer agreement with 257 Entertainment and has entered the post-acquisition integration (PMI) process.
RBW said, "WM Entertainment Co. will comprehensively assume 257 Entertainment's IP assets and exclusive rights to artists, as well as the overall business including employees," and added, "257 Entertainment CEO Park Jae-yong will newly assume the role of co-CEO of WM Entertainment Co. and will jointly manage the company in a two-person system together with existing CEO Kim Jin-woo."
RBW currently has a competitive artist lineup including Mamamoo, Oh My Girl, KARD, Youngpacci, ONEWE, An Ye-eun, Gabee & J, and others. By also securing the IP of XLOV, regarded as a global rookie, it is expected to solidify the synergy of a multi-label structure.
CEO Kim Jin-woo said, "We highly value 257 Entertainment's unique creativity. I have no doubt this acquisition will create powerful synergy by concentrating the business infrastructure and know-how of RBW, DSP Media Co., and WM Entertainment Co."
In particular, RBW, which has welcomed XLOV, is drawing attention for its plan to embark on full-scale global expansion as a comprehensive content company.
XLOV is a four-member multinational boy group that debuted on Jan. 7 last year. The group name combines X, meaning incompleteness, and LOV, short for love not fully realized, and the team drew great interest as the only genderless concept in K-pop.
Among the members, except for Hyun, Umuti, Rui and Haru have already been well known domestically and abroad through appearances on cable channel Mnet's 'Boys Planet' as well as 'Under Nineteen' and 'Build Up: Vocal Boy Group Survival.' Their skills have been verified through major audition programs.
Above all, XLOV has attracted attention for its bold move of promoting a "genderless" concept, the first in K-pop, and has built a global fandom. They have been growing sharply, selling out European tours and overseas albums, and are considered a team to watch. They were particularly popular across Europe, selling out shows in the U.K. (3,000 seats), France (2,580 seats) and Romania (4,000 seats).
With RBW's full support, they are expected to play a major role in expanding IP in the global market.
[Photo] Provided by RBW, XLOV SNS.
[OSEN]