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Media & Entertainment

South Korea's 'Parasite' distributor to buy 'La La Land' production house

CJ ENM bets $775m to expand library for a global audience

Emma Stone won an Oscar for Best Actress for her role in "La La Land." The film won six Oscars in 2017.   © Reuters

SEOUL -- South Korean entertainment group CJ ENM will acquire Endeavor Content, the U.S.-based production company behind Oscar-winning "La La Land," as part of a push to become a global entertainment powerhouse.

CJ ENM announced Friday that it will take an 80% stake in the company, which is a unit of talent agency and sports management company Endeavor Group Holdings, for $775 million. The transaction is expected to be completed in the January-March quarter.

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