Group consolidates all its industry affiliates under one roof

South Korea’s CJ Group has consolidated all its industry affiliates under one roof, CJ Entertainment & Media, which launched Tuesday.

CJ E&M becomes the country’s biggest media conglom, incorporating broadcasting assets CJ Media and On Media; CJ Entertainment (film); Mnet Media (music); plus gamers O Media Holdings and CJ Internet.

It is restructuring its business into four divisions covering broadcasting, film, gaming, music and performance.

CJ Group executive Ha Dae-jung has been appointed CEO of CJ E&M, which is aiming for international sales worth $886 million in 2015.

Headed by current CEO Katharine Kim, the film division is going to widen its focus from local investment and distribution into worldwide content. In particular, it plans to move into animation features that appeal to audiences regardless of nationality or age.

The broadcasting division plans to expand the reach of its tvN Asia channel from seven Southeast Asian countries to 11. It will also launch music channel Mnet Asia, rolling off the popularity of Korean pop music in the region.

CJ E&M will also use the synergies between the divisions to create and distribute content. Currently, it’s developing film and game content based on its hit TV shows.

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