Nexon Pays $685 Million for Stake in South Korean Game Company

Nexon, a Seoul-based game company that recently raised $1.2 billion in an IPO on the Tokyo Stock Exchange, has bought a $685 million stake in NCsoft, a South Korean maker of online games. Nexon is known for such free-to-play games as MapleStory, while NCsoft develops massively multiplayer online game titles, including Lineage and Guild Wars. Nexon paid KRW 250,000 in cash for each share, for a total acquisition cost of KRW 804,522,750,000. Nexon is now NCsoft’s largest shareholder, with a 14.7 percent ownership stake.


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald