CJ ENM buys majority stake in Eccho Rights
Details
Rebecca Hawkes
| 18 December 2018

South Korean media giant CJ ENM has acquired Sweden-based distributor Eccho Rights, as part of a move to strengthen its format and content sales business internationally.

CJ ENM will now have a controlling stake in Eccho Rights , which has a strong slate of Turkish content as well as European, Russian, Indian and Korean titles – some of which it previously acquired from its new parent company.

Following the acquisition by CJ ENM, Eccho Rights will remain an independent entity complete with its existing management structure, and will continue to work with other producers. Eccho will concentrate on TV content, while CJ ENM’s Turkish arm, CJ Entertainment Turkey, will focus on theatrical and film distribution.

“The merger will create exceptional value for both sides to consolidate our global presence. This will substantially enable us to leverage our premium content to reach worldwide audiences offering unique experiences and enjoyment,” said Chul-yeon Kim, SVP of CJ ENM’s global business.

Fredrik af Malmborg, MD of Eccho Rights, added: “CJ ENM is the ideal partner for Eccho Rights in our ambition to build on our business models in television drama for the future. Our experience in the Turkish and Western drama market creates a very solid link to Korea and the rest of Asia. To be a part of CJ ENM will enable us to grow and to develop an even stronger offering to TV producers worldwide”.

Headquartered in Stockholm, Eccho Rights also has offices in Istanbul, Madrid, Seoul and Manilla.

CJ ENM’s media content division owns a range of TV channels including Mnet in South Korea, Japan and America; tvN in South Korea and Asia; XtvN, Channel CGV, OCN and Chunghwa TV. While its Pictures division deals in film financing, production and distribution.