Netflix Worldwide Production, LLC signed a contract to acquire 5% stake in Studio Dragon Corporation (KOSDAQ:A253450) from CJ ENM CO., Ltd. (KOSDAQ:A035760) on November 21, 2019. Under the terms, 1.4 million shares of Studio Dragon Corporation will be acquired. CJ ENM will hold 18.6 million shares in Studio Dragon Corporation post disposal and the stake would reduce from 71.2% to 66.2%. The Board passed resolution on the transaction on November 21, 2019. The transaction is expected to close within one year from November 21, 2019.