Dynamic Duo’s hip-hop label Amoeba Culture will be acquired by CJ E&M.
According to investment banking insiders on November 13, CJ E&M Music Division plans to complete the acquisition of Amoeba Culture shares this week. Additionally, the CEOs will still have management rights. In fact, it appears that the acquisition is more so a strategic alliance to increase record sales and market entry; it will likely be similar to the relationship between CJ E&M and AOMG, Jay Park’s and Simon D’s hip-hop label.
With this acquisition the hip-hop market is likely to expand. A CJ E&M official said, ” We are investing support to develop the hip-hop music market as well as the creative activity of artists.” The official explained that the company wants to invest in genre musicians and creators alienated by the idol-dominated music industry.
Gaeko and Choiza, Dynamic Duo, founded Amoeba Culture in 2006. Since then the roster of talent under the label includes Primary, Supreme Team, Crush, and Ha:tfelt.
By O.C
