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 …
Online giant Kakao announces major investment in K-pop leader SM Entertainment
Korean online media giant Kakao has bought an almost 10% stake in major K-pop agency SM Entertainment, whose clients include Aespa and SuperM. The acquisition of a 9.05% stake for an estimated $172.8m makes Kakao – which has interests in social media, banking and technology development – the second largest shareholder of SM Entertainment. The …