Last month, a report surfaced that claimed Disney was looking to acquire Korean PC and mobile game company Nexon in a deal that would see the former splash a massive $13.2 billion to acquire the large gaming company. The report came way of Korean newspaper The Central Times, which also claimed that Nexon Chariman Jung-ju Kim, who currently owns a majority share of the company worth 98 percent, was the one who approached Disney about striking a deal. However, now a new report out of The Chosun llbo, one of the biggest newspapers in South Korea, says Disney has no intention on acquiring the company.
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More specifically, according to the South Korean newspaper Jung-ju Kim visited Disney and made his pitch, but Disney wasn’t interested. Apparently there’s a shortlist of potential buyers, but the Nexon founder was hoping to sell his company to Disney, who he’s been an admirer of for quite some time. But it doesn’t look like it’s going to happen, with the next round of bids scheduled to take place this month. According to the aforementioned newspaper, numerous companies, such as Tencent, are monitoring the situation.
For those that don’t know: Nexon is a big player in the gaming industry thanks to its presence in South Korea and other Asian markets. The company was founded in 1994, and roughly employs 7,000 employees. As a big company, it naturally has its hands in a lot of pots, but it’s best known for its large presence in the mobile space and for publishing titles like the MapleStory series.
While Disney may not be acquiring Nexon, it looks like someone could very soon. Jung-ju Kim seems intent on selling his majority share, and it’s probably safe to assume Nexon will be in new hands before the year is over.
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