South Korean K-pop giant Hybe is reportedly seeking $380m in new finance as it targets an M&A drive in the Americas. The entertainment group, which has spearheaded BTS’s global success and owns the Ariana Grande label Ithaca Holdings, is in talks with investors to secure “equity financing” worth the equivalent of 500 billion won to …
Hybe to sell SM Entertainment stake to Kakao
South Korean music label Hybe, which manages K-pop boy band BTS, has said it aims to sell its entire stake in entertainment company SM Entertainment, by accepting a tender offer from South Korean internet giant Kakao. According to a report from Reuters, Hybe will sell its 15.8% stake in SM Entertainment for 564 billion won …
SM Entertainment offers support for Kakao tender offer
K-Pop agency SM Entertainment has revealed its support for a tender offer submitted by South Korean internet giant Kakao, which would see the company hold a 35% stake in SM. Yesterday (Tuesday) Kakao announced a tender offer to buy up to 35% of the company for 150,000 South Korean won (£96/€108/$114) per share. Kakao already …
BTS to hold concert as part of Busan World Expo 2030 bid
K-pop favourites BTS have become ambassadors for Busan’s World Expo 2030 bid, and will hold a Global Busan Concert to support the city’s effort. Busan Metropolitan City in South Korea is vying to become the host of the 2030 World Expo. Chairman of South Korean entertainment company HYBE, Bang Si-Hyuk and chief executive Park Jiwon, …