Yoo Jae Suk becomes third-largest shareholder of Antenna Music with 3 billion worth of shares 

National MC Yoo Jae Suk has become the third-largest shareholder of entertainment company Antenna.

On June 26, it is announced that Yoo Jae Suk invested about 3 billion won to become the third-largest shareholder of Antenna.

According to reports, Yoo Jae Suk first proposed investment to help Antenna, which started as a music production company, to expand the field of entertainment content in earnest.

On June 9, he acquired 2,699 shares of Antenna, a subsidiary of Kakao Entertainment, for 3 billion won. Yoo Jae Suk did not serve as a separate executive in the company, so the investment was not disclosed separately.

Earlier, Yoo Hee Yeol invested 3.2 billion won on the same day as Yoo Jae Suk to secure a 21.37% stake and became the second-largest shareholder of Antenna.

Yoo Jae Suk reportedly proposed to Kakao first to purchase his stake after a long discussion with Yoo Hee Yeol. Kakao Entertainment bought a 100% stake from Antenna for about 10 billion won in 2021 and incorporated it as a subsidiary.

As Yoo Jae Suk has risen to the ranks of shareholders, he is expected to actively participate in content fields such as entertainment, his specialty, and focus on fostering younger talents.

Antenna opened a YouTube channel called “Ddeun Ddeun” through its independent entertainment studio Antenna Plus last year. Since then, Antenna Plus has been expanding its production scope by planning and producing various content such as “Pinggyego,” another web entertainment program.

Meanwhile, Antenna is home to singers such as Jung Jae Hyung, Jung Seung Hwan, Kwon Jin Ah, Lee Mi Joo, Lee Jin Ah, Sam Kim, Lucid Fall, and Peppertones. The label recently welcomed the couple Lee Hyo Ri and Lee Sang Soon.

Source: Wikitree