Shinsegae Invests KRW 1.4 Trillion in Acquisition of Global Film Studio "Warner Bros."
Enhancing Competitiveness of Starfield and Theme Parks
Through Utilization of Paramount and Warner Bros. IPs
Pursuing Collaboration with HBO Max and Paramount+
Expanding Beyond Retail into the Global Content Business
Shinsegae Group is set to expand beyond retail into the global content business by investing USD 1 billion (approximately KRW 1.4 trillion) in the acquisition of Warner Bros.
On October 6, Shinsegae Group announced that Shinsegae Property would participate in the Warner Bros. acquisition led by David Ellison, co-CEO of Skydance, and U.S. investment firm RedBird. The group intends to secure new growth engines by combining distribution and content, leveraging global content IPs held by Paramount and Warner Bros.
Shinsegae Group plans to integrate Paramount properties such as "Mission Impossible," "Star Trek," and "Top Gun," as well as Warner Bros. IPs like "Harry Potter" and "Game of Thrones," into Starfield and its theme parks to enhance customer experience.
The group is particularly looking forward to utilizing various global content IPs in the theme park being developed within Star Bay City in Hwaseong. The strategy includes building experiential zones and themed spaces utilizing content within complex shopping malls such as Starfield, Starfield Market, and Starfield Village, thereby fusing shopping and entertainment.
Shinsegae Group also plans to pursue partnerships in the OTT sector. The group believes that by connecting Warner Bros.' HBO Max and Paramount+ with Shinsegae's online and offline affiliate memberships, customer benefits can be expanded while also increasing customer retention.
In the long term, Shinsegae Group plans to expand its influence in the Asian content market beyond Korea by pursuing joint production and content partnerships with the Paramount-Skydance Group. The group especially anticipates that co-producing original Korean content using HBO Max and Paramount+, both of which have over 200 million subscribers, could contribute to the global spread of K-content.
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A Shinsegae Group representative stated, "This investment is more than just a simple equity investment; it serves as a stepping stone for diversification into new business areas that combine entertainment. We aim to establish ourselves as a platform company leading the Asian content market."
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