Jcontentree corp. (KOSE:A036420) entered into a letter of intent to acquire 5.12% stake in Jtbc Studios Co., Ltd from unknown seller for KRW 58.7 billion on April 28, 2021. Under the terms Jcontentree corp. will acquire 3.87 million shares and will issue 1.2 million shares as consideration. Post acquisition Jcontentree corp. will hold 54.6 million shares. For the year December 31, 2020, Jtbc Studios Co., Ltd reported total assets of KRW 323 billion, net loss of KRW 4.6 billion. The transaction was resolved on April 28, 2021 and is expected to close in May 28, 2021.