Saturday, January 01, 2011

JYP Earns Over US$2.3 Million In J.Tunes Entertainment Stock Acquisition

We recently reported that JYP Entertainment would be merging with J.Tune Entertainment. At the time of announcement, J.Tune Entertainment's stocks were at a low of 1,300 won ($1.16 USD). Within a week, their stock closed at 3,205 won ($2.85 USD).

Park Jin Young and JYP Entertainment purchased 1,348,314 and 2,397,003 of J.Tune Entertainment's stocks for 1,335 won ($1.19 USD). With news that Park Jin Young would become J.Tune Entertainment's main shareholder and that J.Tunes Entertainment would be merged with JYP Entertainment in the coming months, stocks rose consistently throughout the week.

JYP's stocks jumped from 1.8 billion won ($1.6 million USD) to 4.4 billion won ($3.9 million USD) during this time. In just weeks, he earned well over 2.6 billion won (2.3 million USD).

Fans have been somewhat confused over the merger, as details have been back and forth. The confirmed details are that miss A will be joining J.Tunes Entertainment with JYP as signed singers. However, on February 16th, J.Tunes Entertainment will change its name to JYP Entertainment and completely merge.

J.Tunes Camp has reported that they are a separate entity from J.Tunes Entertainment and will NOT merge, which means that MBLAQ will not be part of the JYP Family.

Source: BNT News
Credit: Koreaboo

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