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Naman Ramachandran
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Lotte Cultureworks The proposed merger between Lotte Cinema and Megabox, which would have created South Korea’s largest theatrical exhibitor, has officially collapsed after roughly 14 months of negotiations, with the deal ultimately undone by a financial crisis engulfing Megabox’s parent company, JoongAng Group.
Lotte Shopping and Contentree JoongAng disclosed Wednesday that the memorandum of understanding governing the merger between Lotte Cultureworks and Megabox JoongAng lapsed as of June 30, formally ending the process. The two sides had signed the original MoU in May 2025 and extended it three separate times as they worked through deal terms, most recently pushing the deadline to June 30.
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