– Nexon Film & Television signed a strategic partnership with AGBO to expand its global IP
– Accelerate the expansion of global franchises by both companies with an investment of up to $500 million
– AGBO, a global entertainment production company founded by the world-famous film directors, the Russo brothers
NEXON Co., Ltd. (CEO Owen Mahoney) (3659, Tokyo Stock Exchange, Part 1) is an AGBO studio founded by the world-famous film directors Anthony and Joe Russo and producer Mike Larocca. announced on the 6th that it will make a strategic investment of 400 million dollars in
Through this investment, Nexon plans to accelerate the global expansion of its own and new IP (intellectual property rights) in the film and TV field, and AGBO plans to further strengthen its influence in the global entertainment market by strengthening its production capabilities.
This investment was led by the Nexon Film and Television organization led by Nick Van Dyk, senior vice president of Nexon’s Chief Strategy Officer and entertainment industry veteran, and up to 100 million won in the first half of 2022. Additional dollars will be invested.
With this investment, Nexon will secure a 38% or more stake in AGBO, making it the second largest single investor after AGBO management, the largest shareholder. In addition, Nick Van Dyke and Tim Connors, Senior Vice Presidents of Nexon Film & Television, will join the AGBO Board of Directors.
Nexon CEO Owen Mahoney said, “Nexon has developed a large IP for decades and has maintained its popularity by servicing the global market. We will share our core vision to impress our customers.”
The Russo brothers, co-founders and chairman of AGBO, said, “The partnership between Nexon and AGBO will be an important turning point in expanding the convergence of franchise movies and games to a global reach. We will be able to share and demonstrate our unique capabilities.”
Nick Van Dyke, general manager and chief strategy officer of Nexon Film & Television, said, “Films and TV contents based on game IP have proven the effect of increasing user participation and extending the life cycle of games.” “With AGBO, global users We are very happy to be able to provide a variety of experiences, such as games, movies, TV, and merchandise sales, to customers.”
AGBO CEO Jason Bergsman said, “This investment will serve as a major foundation for AGBO to grow into an independent, creator-led entertainment company. We will become the optimal strategic partner with AGBO.”
AGBO co-founder Mike LaRocca said, “This investment will be a great help in realizing AGBO’s mission to entertain viewers around the world through various forms of media with exciting stories.”
Meanwhile, AGBO is a global entertainment production company established for the production of various digital media contents including movies. The writing staff includes Christopher Markus and Stephen McFeely.
AGBO works with partners such as Netflix, NBC Universal, Amazon Prime Video, Disney+, Apple TV+, A24 and Roku to create video streaming services and movie television content for theater distribution.
|Reporter Jang-won Lee [email protected]|