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Teabing merges with the season... The merger date is December 1st.

CJ ENM's online video service (OTT) 'Tiving' will merge with KT Studio Genie's OTT 'Season'.

Teabing announced on the 14th that it had decided to merge the season. This is the first merger since Teabing's independence.

The two companies are planning to expand their influence in the global OTT market as well as in Korea through all-round synergy such as content competitiveness and OTT/communication combination.

Teabing decided to merge with Katie Season through the board of directors on the same day. According to the merger decision, Teabing will strengthen its technology and services by combining the existing original content production capability and OTT technology with the season's business organization.

The merger method is that Teabing absorbs the season, and the planned merger date is December 1.

The merger was made as part of business cooperation between CJ ENM and KT in the first half of last year. The two companies signed a memorandum of understanding (MOU) in March and announced a strategy to strengthen partnership in the media and content market.

Teabing was joined by JTBC right after the launch of an independent corporation from CJ ENM in October 2020, and in June of last year, it has increased its competitiveness by attracting equity investment from Naver, which has various source IPs such as webtoons and web novels.

Starting with the first original content 'Girls' Gochuriban', 'Seoul Check-in' and 'Yumi's Cells'. 'Drunk City Women', 'Transfer Love', 'The King of Pigs'. It is enhancing its competitiveness through unique original content strategies such as 'Ghost'. In addition, it is strengthening its service technology through live broadcasting of various sports events and concerts such as soccer, UFC, boxing, and tennis.

Teabing has shown growth in paid subscribers and succeeded in attracting an investment of 250 billion won, and has also been recognized for its high corporate value of about 2 trillion won.

It is strengthening strategic cooperation with global media group Paramount, such as 'Paramount Plus Brand Pavilion', original co-production, and content investment.

Combine

The season has strengthened OTT competitiveness by exclusively disclosing various types of differentiated content from short form to mid form. His representative works include the original 'Boys Flight', 'Crime Puzzle', 'There is no need', 'Another Record', 'Love Mafia', 'Sleeping', and 'Strange Lawyer Woo Young-Woo'.


Teabing plans to take advantage of the merger as an opportunity to actively engage in content production and exchange, diversified distribution strategies, and advancement of viewing quality services.

Ji-eul Yang, CEO of Teabing, said, The meeting between Teabing and KT Season is to actively respond to the development of the K-content industry, which has recently strengthened its global status, and changes in the OTT ecosystem. We will leap forward as the 'global NO.1 K content platform', he said.

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