BANGKOK: Korean media conglomerate CJ E&M has acquired the Vietnamese content outfit and ad agency Blue Group and has set up a joint venture with Thailand’s TrueVisions. “CJ E&M strives to achieve its goal to become a global top ten entertainment and culture company by 2020,” said Sung-Su Kim, the CEO of CJ E&M. “For this, we are implementing glocalization strategies, by forging partnerships with key local industry players. We believe that the acquisition of Blue Group and the establishment of a joint venture in Thailand will enable us to lay the groundwork for regional business expansion.”
In Vietnam, the acquisition of the multimedia agency will result in the creation of CJ Blue Corp. The rebranded company will remake dramas and entertainment shows from CJ E&M portfolio, and develop content locally.
In Thailand, meanwhile, True CJ Creations combines CJ’s content capabilities with TrueVision’s local media infrastructure and networks in order to create broadcast content that caters to the needs of the local audience. Get It Beauty and Remember You are set to be remade in the market. True CJ Creations plans to produce three dramas and/or entertainment programs by 2017 and more than 10 by 2021.
