Production company behind "Zzanbro Shin Dong-yup" undergoes absorption merger just 10 days after 7.5 billion won sale, leading to corporate dissolution [Star Issue]

*This content was translated by AI.View Original

Bara Company, the production company behind the YouTube content "Zzanbro Shin Dong-yup," which has 2.14 million subscribers, will be absorbed and merged into its parent company Ascendio.

According to a public disclosure on the Financial Supervisory Service's electronic disclosure system on the 27th, Ascendio announced that it had decided at a board meeting on the 23rd to absorb and merge with its subsidiary Bara Company.

Ascendio explained that the decision was made to simplify its corporate governance structure to enhance management efficiency and to expand synergy effects from business integration.

Previously, Ascendio signed a contract to acquire all shares of Bara Company for 7.5 billion won. Ownership of the shares has already been transferred, and the remaining balance of 3 billion won out of the acquisition price is scheduled to be paid on December 15.

The merger will proceed without issuing new shares, with a merger ratio of 1 to 0 between Ascendio and Bara Company.

The effective date of the merger is December 28. If the procedures are completed as planned, Bara Company, established in February 2024, will be integrated into Ascendio in approximately two years and ten months.

Bara Company recorded revenue of approximately 1.189 billion won last year, a 287.9% increase from the previous year. Operating loss was approximately 109 million won, and net loss for the period was approximately 110 million won, decreasing by 80.6% and 79.9%, respectively.

Bara Company, which had recorded losses for two consecutive years since 2024, successfully turned a profit in the first half of this year.

Revenue in the first half of this year was approximately 2.81 billion won, reaching 2.36 times the annual revenue of last year. Operating profit and net income for the period were recorded at approximately 396 million won and 388 million won, respectively.

"Zzanbro Shin Dong-yup," produced by Bara Company, is a YouTube drinking show variety program hosted by comedians Shin Dong-yup and Jung Ho-cheol.

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*This content was translated by AI.View Original