Shinsegae Group will invest $1 billion in Paramount Skydance's acquisition of Warner Bros. Discovery. It plans eventually to expand the use of film and television content into businesses linked to theme parks and commercial facilities.
Shinsegae Group announced that it would invest $1 billion in Warner Bros. Discovery, whose acquisition by Paramount Skydance has been completed. The actual investor will be Starfield Properties, the US subsidiary of Shinsegae Property, which will acquire a 100% interest in the investment vehicle RB Tentpole. The overall stake is described as less than 5%.
Shinsegae said it plans to use Paramount Skydance subsidiaries including film studio Paramount and CNN, incorporating Hollywood content into Starfield's newly established commercial facilities.
Over the longer term, it is considering linking Paramount's OTT service Paramount+ with Warner Bros.' HBO Max and connecting them to Starfield's membership program to expand customer benefits. It is also considering the joint production and overseas rollout of Korean original content.
Shinsegae is developing plans for a theme park in Starbay City, Hwaseong, and is considering experiential venues based on the worlds of films and series including Mission: Impossible, Star Trek and Top Gun, as well as Harry Potter and Game of Thrones.