Producer of YouTube’s ‘Salty Brother Shin Dong-yup’ to be absorbed in merger 10 days after 7.5 billion won sale, ceasing to exist as a company

[Financial News] Balla Company, the producer of the YouTube variety show ‘Salty Brother Shin Dong-yup,’ will be absorbed by its parent company, Ascendo. After acquiring all of Balla Company’s shares for 7.5 billion won, Ascendo—which has traditionally focused on films and dramas—is moving to integrate the two companies and expand its business into web variety shows.
According to the Financial Supervisory Service’s Data Analysis, Retrieval and Transfer System (DART), Ascendo held a board meeting on the 23rd and decided to absorb its wholly owned subsidiary, Balla Company. The merger is scheduled to take effect on December 28. Ascendo cited simplifying its corporate governance structure and improving management efficiency as the reasons for the merger.
Ascendo had earlier signed an agreement to acquire 100,000 shares in Balla Company for 7.5 billion won. Ownership of the shares has already been transferred, and the remaining acquisition payment of 3 billion won is scheduled to be paid on December 15.
The schedule for paying the acquisition price was revised after the initial agreement. The original plan was to pay a 2.5 billion won down payment on September 29 and the remaining 5 billion won on October 13. It was adjusted to a split payment of a 2.5 billion won down payment, a 2 billion won interim payment on October 13, and a final payment of 3 billion won on December 15. The date of the interim payment was set as the date of transfer of ownership.
The merger is a process of bringing a subsidiary whose shares are already wholly owned into its parent company. It will be carried out without issuing new shares, and the merger ratio between Ascendo and Balla Company is 1 to 0.
If the merger is completed as planned, Balla Company, founded in February 2024, will be integrated into Ascendo after approximately two years and 10 months.
Balla Company is a content production company founded by CEO Cho Seung-wook, a former head of JTBC’s entertainment division, and producer Won Seung-yeon, who directed programs including ‘Music Bank’ at KBS, among others. Its flagship content, ‘Salty Brother Shin Dong-yup,’ is a YouTube talk-variety show hosted by Shin Dong-yup and comedian Jeong Ho-cheol. As of the morning of the 28th, it had approximately 2.14 million subscribers.
Balla Company’s revenue for the first half of this year was approximately 2.801 billion won, 2.36 times its annual revenue of approximately 1.189 billion won last year. Operating profit was approximately 396 million won, and net income was approximately 388 million won.
Last year, revenue rose 287.9% from the previous year, but the company posted an operating loss of approximately 109 million won and a net loss of approximately 110 million won. The losses narrowed by 80.6% and 79.9%, respectively, from the previous year. After recording losses in both 2024 and 2025, the company returned to profitability in the first half of this year.
At the time of the acquisition, Ascendo said it would combine its film and drama production business with Balla Company’s experience in producing web variety shows and its industry network. Balla Company said it is preparing a new global talk-variety show with TPS Company and plans to launch additional YouTube channels.
[email protected] An Ga-eul Reporter