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Sony Music Entertainment Japan to buy GungHo shares in games alliance

GungHo Online Entertainment logoGungHo Online Entertainment
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Sony logoSony
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GungHo Online Entertainment said Sony Music Entertainment Japan (SME) will acquire 12,006,500 GungHo shares in an off-market transaction totaling 28,635,502,500 yen, making SME the largest shareholder pending regulatory approval and completion by December 30. The parties will explore joint smartphone, console, and PC game development and operations, plus new projects using SME Group IP, while GungHo keeps management independence.

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