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The deal with the content production arm of telecoms provide Kora Telecom follows a similar deal with Endeavor Content, work $785 million.

The comprehensive global deal that includes co-productions for original series and films, content licensing and distribution across ViacomCBS' and CJ ENM's leading streaming services.

CJ ENM has entered into a definitive agreement to acquire an 80% stake of the scripted business of Endeavor Content from its parent company Endeavor Group Holdings for US$775 million in total proceeds.

Seeking to achieve a global footprint, the company will spend 5 trillion won ($4.4 billion) on content over five years, with some 800 billion won ($708 million) going into production in the current year.