A+E Networks Makes Korean Investment

NEW YORK: A+E Networks has picked up a stake in Korea’s IHQ and has acquired two local channels in the territory that will be rebranded as HISTORY and Lifetime next year.

IHQ manages talent, produces content and operates six channels in the market. The investment and strategic alliance marks a significant expansion of A+E Networks’ presence in South Korea. The two local channels that are being rebranded, FoodTV and TVIS, will be widely distributed across a range of platforms via a partnership with IHQ and its majority shareholder, D’Live, one of the largest cable and OTT service providers in Korea. HISTORY and Lifetime in Korea will feature local content alongside the company’s global franchises. A+E Networks and IHQ will also collaborate on growth opportunities for IHQ’s brands outside of Korea.

“This is a broad and ambitious partnership that enables A+E Networks to create a content production engine across all platforms, and will provide growth opportunities across a region that is of critical strategic importance to us,” said Edward Sabin, the executive managing director for the Americas and head of commercial operations for international at A+E Networks. “In addition, the acquisition and partnership underscore A+E Networks’ commitment to creating high-quality content and growing the relevance of the HISTORY and Lifetime brands among Korean audiences. All of this on the back of two well-penetrated local channels that give us powerful launch pads for our brands, both corporately for A+E Networks as well as for HISTORY and Lifetime. We look forward to working closely with IHQ to execute on this vision.”

YJ Jeon, CEO of IHQ and D’Live, added, “A+E Networks’ venture into the Korean market is truly a groundbreaking event. A deal of this significance is unprecedented in the Korean media and content market. It is also meaningful in that A+E Networks’ entry will pave the way for further advancement of the Korean content industry. The alliance is also a major step forward for IHQ as it will help with our efforts to expand at the global level and enable IHQ to be more aggressive in expanding its content and media operations. Furthermore, we expect the strategic investment to further increase the potential value proposition of D’Live and IHQ.”