Asia’s leading entertainment and merchandising company, CJ ENM announced today that it has signed an agreement to acquire a majority stake in Eccho Rights, the Sweden based global rights management and distribution company.
Eccho Rights is a leader in sales of drama series and movies from around the world, with offices in Stockholm, Istanbul, Madrid as well as Seoul and Manilla. In the past year Eccho Rights has licensed over 15,000 hours of TV series to clients worldwide and the company is one of the top exporters of drama series from Turkey. The organisation has also established a strong business based on drama series from Western Europe as well as emerging markets such as Russia, India and Korea. Eccho Rights' mission is to work with independent producers to empower creativity worldwide.
The acquisition is driven by CJ ENM’s strategy to accelerate its global expansion and content business in key markets including Europe, Middle East and Latin America. The transaction will bring synergies strengthening CJ ENM’s format business, content sales and distribution as well as developing the extensive catalogue of IPs represented by Eccho Rights.
Chul-yeon Kim, SVP of CJ ENM's Global Business said, “The merger will create exceptional value for both sidesto consolidate our global presence. This will substantially enable us to leverage our premium contents to reach worldwide audiences offering unique experiences and enjoyment.”
"CJ ENM is the ideal partner for Eccho Rights in our ambition to build on our business models in television drama for the future. Our experience in the Turkish and Western Drama market creates a very solid link to Korea and the rest of Asia. To be a part of CJ ENM will enable us to grow and to develop an even stronger offering to TV producers worldwide," says Fredrik af Malmborg, Managing Director of Eccho Rights.
Korean Cjenm acquires Swedish distributor Eccho Rights
