You will be redirected back to your article in seconds

Taewon closes production house

Producer sells shares to private buyers

Influential South Korean producer Chung Taewon is set to quit his production powerhouse, Taewon Entertainment.

Chung, who held 17% of the company, and other major shareholders FireWorks Intl. (35%) and Cannizaro Asia Master Fund (17%) have sold their shares to private buyers Cho Jung-ho and HC Partners. Transaction was valued at $18.5 million.

Sale marks the end of the road for the stock market-listed Taewon Entertainment as an entertainment and media operation. Company changed its articles of association this month to make energy and resources its business activities. On Sept. 5 it will change its name to MPlus I.

Chung has already established an unlisted shingle named Taewon Prods. and will continue to make films. Projects include the previously announced Yuen Wo-ping comedy actioner “Spaghetti Versus Noodle” and TV series “Iris,” starring Lee Byung-hun. Chung expects to reclaim the Taewon Entertainment moniker later.

More Film

  • Samuel L. Jackson's Frozone Saves the

    'Incredibles 2': Samuel L. Jackson's Frozone Saves the Day in CinemaCon Footage

    Influential South Korean producer Chung Taewon is set to quit his production powerhouse, Taewon Entertainment. Chung, who held 17% of the company, and other major shareholders FireWorks Intl. (35%) and Cannizaro Asia Master Fund (17%) have sold their shares to private buyers Cho Jung-ho and HC Partners. Transaction was valued at $18.5 million. Sale marks […]

  • solo a star wars story

    'Solo: A Star Wars Story' CinemaCon Footage Shows Han Meeting Lando

    Influential South Korean producer Chung Taewon is set to quit his production powerhouse, Taewon Entertainment. Chung, who held 17% of the company, and other major shareholders FireWorks Intl. (35%) and Cannizaro Asia Master Fund (17%) have sold their shares to private buyers Cho Jung-ho and HC Partners. Transaction was valued at $18.5 million. Sale marks […]

  • Disney CinemaCon

    Disney Debuts Live-Action 'Lion King,' 'Dumbo,' 'Aladdin' Footage at CinemaCon

    Influential South Korean producer Chung Taewon is set to quit his production powerhouse, Taewon Entertainment. Chung, who held 17% of the company, and other major shareholders FireWorks Intl. (35%) and Cannizaro Asia Master Fund (17%) have sold their shares to private buyers Cho Jung-ho and HC Partners. Transaction was valued at $18.5 million. Sale marks […]

  • eddie kalish Obit

    Marketing Executive Eddie Kalish Dies at 79

    Influential South Korean producer Chung Taewon is set to quit his production powerhouse, Taewon Entertainment. Chung, who held 17% of the company, and other major shareholders FireWorks Intl. (35%) and Cannizaro Asia Master Fund (17%) have sold their shares to private buyers Cho Jung-ho and HC Partners. Transaction was valued at $18.5 million. Sale marks […]

  • Will Smith arrives at the U.S.

    'Aladdin' Teased at CinemaCon, Will Smith Won't Imitate Robin Williams

    Influential South Korean producer Chung Taewon is set to quit his production powerhouse, Taewon Entertainment. Chung, who held 17% of the company, and other major shareholders FireWorks Intl. (35%) and Cannizaro Asia Master Fund (17%) have sold their shares to private buyers Cho Jung-ho and HC Partners. Transaction was valued at $18.5 million. Sale marks […]

  • Chris Evans

    Chris Evans Talks 'Infinity War,' Broadway and His Future With Captain America

    Influential South Korean producer Chung Taewon is set to quit his production powerhouse, Taewon Entertainment. Chung, who held 17% of the company, and other major shareholders FireWorks Intl. (35%) and Cannizaro Asia Master Fund (17%) have sold their shares to private buyers Cho Jung-ho and HC Partners. Transaction was valued at $18.5 million. Sale marks […]

  • Cinemark, RealD Renew 3D Agreement Through

    Cinemark, RealD Renew 3D Agreement Through 2022

    Influential South Korean producer Chung Taewon is set to quit his production powerhouse, Taewon Entertainment. Chung, who held 17% of the company, and other major shareholders FireWorks Intl. (35%) and Cannizaro Asia Master Fund (17%) have sold their shares to private buyers Cho Jung-ho and HC Partners. Transaction was valued at $18.5 million. Sale marks […]

More From Our Brands

Access exclusive content