Tbroad Holdings Co.,Ltd. agreed to acquire remaining 7.43% stake in Tbroad Hanvit Broadcasting Co., Ltd. on October 23, 2014. The exchange ratio for the transaction is 1.096. The merger agreement was signed on October 27, 2014. In a related transaction, Tbroad Holdings will acquire Qrix Holdings Inc., Tbroad DobongGangbuk Broadcasting Co.,Ltd and T-Broad Seohae Broadcasting Co. Tbroad Holdings will issue 1.12 million shares for all the transactions. Tbroad Holdings Co.,Ltd. amendment the exchange ratio and changed the merger ratio to 1.13655817. Tbroad Holdings will issue 0.58 million shares for all the transactions. Tbroad Hanvit Broadcasting had total assets of KRW 735.6 billion, net assets of KRW 435.4 billion, net income of KRW 28.6 billion and revenues of KRW 264.9 billion in 2013. The transaction is subject to approval by shareholders of Tbroad Holdings, signing of merger contract, and government approval such as the Ministry of Science, ICT and Future Planning and the Fair Trade Commission. The meeting of the shareholders of Tbroad Holdings is scheduled for April 28, 2015. The Board of Directors of Tbroad Holdings passed the resolution for the transaction on October 23, 2014. The scheduled merger date is June 1, 2015 and scheduled merger registration date is June 5, 2015. As on July 9, 2015, the deal schedule has been postponed. The general meeting of stockholders for merger approval is expected to be held on August 11, 2015. The creditors can submit their objections between August 14, 2015 and September 14, 2015. The merger is expected to close by September 15, 2015. Tbroad Holdings Co.,Ltd. cancelled the acquisition of remaining 7.43% stake in Tbroad Hanvit Broadcasting Co., Ltd. on June 20, 2016.