Shinsegae Property, a wholly owned unit of Shinsegae Group, the founder of E-Mart (KRX:139480), will invest $1 billion in the acquisition of Warner Bros., which is being pursued by Chairman David Ellison (co-CEO of Skydance), US fund investment management firm Redbird, and other investors.

The move aims to build a new growth avenue by leveraging popular content from Paramount and Warner Bros., according to Shinsegae Group's statement on Tuesday.

E-mart and Shinsegae (KRX:004170) are sister companies within Shinsegae Group.

Shinsegae seeks to become a platform blending retail and culture, using franchises such as Mission Impossible, Harry Potter, and Game of Thrones, while expanding beyond Korea into an Asian content hub.

The group plans to use these IPs for attractions at its planned Hwaseong Star Bay City theme park and to enhance Starfield malls with themed spaces and experiential facilities.

Shinsegae also anticipates collaborating in the over-the-top (OTT) sector with services like HBO Max and Paramount Plus, linking them to its membership programs to boost customer benefits and lock-in.