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YG Entertainment is known to be home to some of the biggest names in Kpop, such as Big Bang, 2NE1, BlackPink, and Winner. But the South Korean company is not just a talent agency for Kpop artists, for it also has units that manage models, actors, and even sports personalities.
YG Entertainment is part of the "big 4" that refers to the top four entertainment companies in the country. The other three agencies are SM Entertainment, JYP Entertainment, and the recently added HYBE that was formerly known as Big Hit Entertainment, the home of the world-famous boy band, BTS.
In any case, Pulse News reported that since YG Entertainment's focus is divided into many units, it now wants to put more attention on its artists and the entertainment business. Thus, it has decided to unload its YG Sports division through the sale.
It was said that YG Sports, the sports marketing unit of YG, will be sold as part of the efforts and strategy to dispose of non-core businesses and for the company to focus more on its artist management. YG Plus Inc., which is a subsidiary of YG Entertainment, announced its plan to sell the sports division on Friday.
YG Sports is the marketing agency that is managing Park Min Ji, a Korea Ladies Professional Golf Association's (KLPGA) golfer. It will be sold to Infinitum Partners, a local private equity fund company, for around ₩6 to 7 billion or $5.06 million. After the sale is completed, the new owner will be renaming YG Sports to GAD Sports.
YG launched its sports unit in 2007 and apart from marketing, it also started managing the career of popular pro-golfers. It also made and sold golf apparel and supplies in addition to hosting tournaments including KPGA, KLPGA, and some amateur leagues.
While YG Sports was also a profitable business, its earnings dwindled during the pandemic and YG Entertainment decided to just shut down its golf business. Now it will be exerting more effort and boost its entertainment unit after the sale.
"We are currently expanding our main business of entertainment and merchandising based on our strategy for the company's future business. Various aspects of our business portfolio are under review, but no specific decision has been made yet," The Korea Times quoted a YG Plus official as saying in August when the reports of the sale first emerged.
