Korea’s Kakao Entertainment Buys Fiction App Radish For $440 Million
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deadline.comLA-based serialized fiction app Radish has sold itself to Kakao Entertainment of Korea in a deal worth $440 million. The Board of Directors and majority of Radish shareholders approved the acquisition, which is expected to close in June.The move will strengthen Kakao’s fast-growing global webtoons and web novel business and expand its reach in North America and other English-speaking territories.
Radish brings a strong fan base of millions in North America for its Radish Original series, a source of original IP that Kakao can now adapt into webtoons and video, the companies said Monday.Kakao Entertainment owns original story IPs for webtoon and web novels developed in-house into music, TV series, movies and performances.
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