Kakao denies intent to sell Kakao Entertainment

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Published: 09 Apr. 2025, 17:11

YOON SO-YEON
[email protected]

Kakao logo [KAKAO]

Kakao denied rumors that it's seeking to sell its content subsidiary Kakao Entertainment in a regulatory filing on Wednesday.

"It is true that we are seeking various ways to come up with a plan to foster sustainable growth of Kakao Entertainment and fortify the Kakao Group value, but nothing has been decided yet," the tech company said Wednesday.

"We will file details within one month, or when the details are finalized," added Kakao.

The filing comes after media reports that Kakao is seeking to sell Kakao Entertainment shares after failing to take the entertainment subsidiary public due to weakened investor sentiment.

Kakao Entertainment has been aiming to go public since 2019 but failed to do so.

BY YOON SO-YEON [[email protected]]