Constellation Agency is primarily involved in the business of overseas agency for Korean artists venturing into the overseas market
Constellation Agency owns The P Factory, an innovative marketing solutions provider and Platform Media Group, a talent agency which represents drama and film artists such as Wang Ji-won, Lee Ji-hun, Han Ji-an and Oh Cho-hee
SINGAPORE – Media OutReach – 22 December 2017 – Spackman Entertainment Group Limited (“Spackman Entertainment Group” or the “Company” and together with its subsidiaries, the “Group”), one of Korea’s leading entertainment production groups founded by Mr. Charles Spackman, wishes to announce that the Company has entered into a sale and purchase agreement with independent third parties to acquire the entire issued and paid-up share capital of the Constellation Agency Pte. Ltd. (“Constellation Agency”) (the “Proposed Acquisition”).
Constellation Agency is primarily involved in the business of representing and advising Korean artists in overseas markets outside of Korea. It acts as agent and advisor to a selective group of major Korean artists in entertainment content projects, events, and commercial endorsements in overseas markets, namely, in Greater China, Southeast Asia, and the U.S.
Constellation Agency owns The P Factory Co., Ltd. (“The P Factory”), an innovative marketing solutions provider specializing in event and branded content production. The P Factory leverages on its expertise across film, television, digital media, music, and access to key talent to originate and execute creative marketing strategies that enhance the marketing position of brands of various consumer products and services.
Constellation Agency also owns Platform Media Group Co., Ltd. (“PMG”), a talent management agency which represents and manages the careers of major artists in film, television, commercial endorsements, and branded entertainment.
The artist roster of PMG includes drama and film artists such as Wang Ji-won (ONE LINE 2017, HOSPITAL SHIP 2017), Lee Ji-hun (I CAN SPEAK2017, THE UNIVERSE’S STAR 2016), Han Ji-an (MARITAL HARMONY 2017, THAT SUN IN THE SKY 2016) and Oh Cho-hee (BLACK 2017, VOICE 2017).
The total purchase consideration for the Proposed Acquisition shall be 144,770,861 newly issued ordinary shares of the Company at S$0.115 per share, which was arrived at following arm’s length negotiations on a willing buyer, willing seller basis, and taking into account, inter alia, the Constellation Agency’s unaudited net profit of US$1.2 million (approximately S$1.6 million) for the period from the date of its incorporation to 30 November 2017 and its unaudited net asset value of US$3.6 million (approximately S$5.0 million) as at 30 November 2017.
The Group views that the acquisition of Constellation Agency will allow it to better leverage on the unique marketing expertise and talent management platform to deliver top quality integrated content production to its targeted audience.
The Group also believes that this is a strategic fit to the Company’s existing operations as it develops a more consistent and stable revenue in its business diversification efforts.
Monica HaYeon Chang is the CEO of The P Factory. She started her career in agencies of foreign models and photographers and moved to advertising agencies.
Throughout her career, she has accumulated extensive experiences in the marketing of films and planning & production of advertisements for several well-known consumer brands such as Unilever, Samsung, LG, P&G, Hyundai Motors, SK Telecom, Vidal Sassoon, etc.
She was previously involved in the marketing of films such as S DIARY, THE ERASER IN MY HEAD and LET ME INTRODUCE MY GIRL FRIEND.
Kim Suk Young is the CEO of PMG. Prior to establishing PMG, he has managed top talent since 1999, including top star Kwon Sang-woo since 2002, and Kim Hee-sun, who has won numerous Best Actress awards.
Under his management, Kwon Sang-woo rose to stardom in 2003 with the romantic comedy film MY TUTOR FRIEND and the melodrama series STAIRWAY TO HEAVEN, which launched him to top tier status in Korea and turned him into a regional star all over Asia. (MOR)
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