December 27, 2016 / 3:38 AM / a year ago

BRIEF-FNC Entertainment says update of setting up JV

Dec 27 (Reuters) - FNC Entertainment Co Ltd :

* Says it will establish a joint venture, which will be engaged in the culture management business, with Suning Universal Media Co.,Ltd

* Says the company will invest 11.11 billion won in the joint venture, to hold 49 percent stake

* Says transaction settlement date was amended to Dec. 31, 2018 from June 30, 2017

* Original notice was published on March 7

Source text in Korean: goo.gl/AUw92g

Further company coverage: (Beijing Headline News)

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