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3mo ago

FTC Certifies Tving-Wavve Merger With Subscription Fee Freeze

The regulator requires the merged streaming service to maintain existing pricing structures through the end of 2026 to preserve fair competition.

Antitrust watchdog conditionally approves Tving-Wavve merger - 1
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Overview

  • The Fair Trade Commission granted conditional approval on June 10 after evaluating potential anticompetitive risks in a market dominated by Netflix.
  • Both Tving and Wavve must keep all current subscription fees unchanged until at least December 31, 2026.
  • Any unified service launched during this period is required to offer pricing plans comparable in cost and features to the existing models.
  • Tving, owned by CJ ENM, and Wavve, backed by KBS, MBC, SBS and SK T, currently hold the second and fourth largest shares of South Korea’s streaming market.
  • The merger is expected to enhance combined content production capabilities as the new entity seeks to strengthen its position against industry leader Netflix.