KT Skylife Co., Ltd. (KOSE:A053210) agreed to acquire Hyundai MEDIA Co., Ltd. from from Hyundai Futurenet Co., Ltd (KOSE:A126560) for KRW 31 billion on October 13, 2020. As part of the transaction, 3.02 million shares of Hyundai MEDIA will be sold. Hyundai MEDIA has total assets of KRW 21.8 billion, total equity of KRW 17.9 billion, revenue of KRW 18.5 billion and net income of KRW 1.6 billion.

The Board of Directors of Hyundai MEDIA resolved the transaction. As of August 24, 2021, the transaction was approved by The Korea Fair Trade Commission. The transaction is expected to close on July 30, 2021 and is subject to change.

As of July 30, 2021, The transaction is expected to close on September 30, 2021.