Ryu Joon Yeol's label C-JeS Studios acquires Hyeri's agency Creative Group ING

Ryu Joon Yeol's label C-JeS Studios has acquired Hyeri's agency Creative Group ING.

According to reports on April 5, C-JeS Studios purchased Creative Group ING for 1.3 billion won ($959,863.84 USD). Until now, the two companies operated as independent management companies though many of the largest shareholders are the same. After the acquisition, they're expected to integrate the management and jointly manage artists.

C-JeS Studios also acquired a 51% stake in JN Agent, another entertainment company, for 1 billion won ($737,757.70 USD). It's reported that C-JeS is making these moves as a way to make up for its sluggish performance the past 2 years as they suffered an operating loss of 6.5 billion won just last year alone.

The acquisition is further making headlines because former couple Ryu Joon Yeol and Hyeri will now be under the same parent company. The two broke up last year after 8 years of dating, and they were recently involved in a controversy because of Ryu Joon Yeol's allegedly "transit relationship" with actress Han So Hee, who he was confirmed to have parted ways 2 weeks after going public with the relationship.

In other news, Ryu Joon Yeol is starring in the upcoming Netflix series 'The 8 Show', and Hyeri is starring in the new movie 'Victory'.