TVING-Wavve merger still unfinished as KT Studio Genie holdout persists
KT Studio Genie's 13.54% stake in TVING remains a key variable, while the KCC says it cannot intervene directly in private mergers.
TVING and Wavve had still not completed their merger as of early November 2026, according to digitaltoday.co.kr. KT Studio Genie's consent is cited as a key obstacle to closing the combination.
KT Studio Genie holds a 13.54% stake in TVING, making its agreement a central variable in the deal. Without it, the two Korean OTT services remain separate operators.
The Korea Communications Commission says it is difficult for the regulator to intervene directly in mergers between private companies. Under the current Broadcasting Act, OTT operators are not subject to broadcasting licence approval.
The competition regulator has already cleared part of the ground: in June 2025, Korea's Fair Trade Commission conditionally approved the CJ ENM/TVING-Wavve combination involving concurrent executive posts.
The two services signed a memorandum of understanding for a merger at the end of 2023. On 30 September 2026, the head of the KCC's broadcasting infrastructure bureau said at a plenary briefing that the TVING-Wavve merger is a matter the companies are reviewing themselves.
Quick answers
Have TVING and Wavve merged?
No. As of early November 2026 the merger had not been completed, with KT Studio Genie's consent cited as a key obstacle.
How big is KT Studio Genie's stake in TVING?
KT Studio Genie holds a 13.54% stake in TVING.
What did Korea's Fair Trade Commission decide on the deal?
In June 2025 it conditionally approved the CJ ENM/TVING-Wavve combination involving concurrent executive posts.