{"id":4015,"date":"2023-03-24T05:37:12","date_gmt":"2023-03-24T12:37:12","guid":{"rendered":"https:\/\/blog.goticketly.com\/index.php\/2023\/03\/24\/hybe-to-sell-sm-entertainment-stake-to-kakao\/"},"modified":"2023-03-24T05:37:12","modified_gmt":"2023-03-24T12:37:12","slug":"hybe-to-sell-sm-entertainment-stake-to-kakao","status":"publish","type":"post","link":"https:\/\/blog.goticketly.com\/index.php\/2023\/03\/24\/hybe-to-sell-sm-entertainment-stake-to-kakao\/","title":{"rendered":"Hybe to sell SM Entertainment stake to Kakao"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"primary\">\n<p class=\"standfirst\">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. <\/p>\n<p>According to a report from <a href=\"https:\/\/www.reuters.com\/markets\/deals\/south-koreas-hybe-sell-its-stake-sm-entertainment-2023-03-24\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a>, Hybe will sell its 15.8% stake in SM Entertainment for 564 billion won (\u00a3358m\/\u20ac407m\/$437m).<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>In February, Hybe attempted to purchase a larger share in SM Entertainment after buying an initial 14.8% share, but this fell through earlier this month. Kakao then launched a <a href=\"https:\/\/www.theticketingbusiness.com\/2023\/03\/08\/sm-entertainment-offers-support-for-kakao-tender-offer\/\" target=\"_blank\" rel=\"noopener\">tender offer<\/a> to acquire up to 35% of SM Entertainment at 150,000 won per share.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Hybe would pocket around $87m from the sale to Kakao, which represents a 25% return from an investment that was made just over a month ago. The company purchased the stake from SM founder Lee Soo-man.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/variety.com\/2023\/biz\/news\/hybe-sm-entertainment-k-pop-1235563480\/\" target=\"_blank\" rel=\"noopener\">Variety<\/a> reported that it would be unlikely that all the shares being sold will go to Kakao, as it would take the company beyond the 35% sought in its offer. Excess shares would most likely have to be sold through the stock market.<\/p>\n<p>\t\t\t\t\t\t\t<!-- \n\n<div class=\"tax-cat-tags\">\n\t\t\t\t\t\t\t\t\n\n<div class=\"col-sm-6 tax-cat\">\n\t\t\t\t\t\t\t\t\t\n\n<p class=\"\">Filed under<\/p>\n\n\n\n\t\t\t\t\t\t\t\t\t<button class=\"btn\" >Awards<\/button>|<button class=\"btn\" >Ticketing<\/button>\n\n\t\t\t\t\t\t\t\t<\/div>\n\n\n\n\t\t\t\t\t\t\t\t\n\n<div class=\"col-sm-6 tax-tags\">\n\t\t\t\t\t\t\t\t\t\n\n<p class=\"\">Tags<\/p>\n\n\n\t\t\t\t\t\t\t\t\t<button class=\"btn\" >Ticketing<\/button>|<button class=\"btn\" >Stadiums<\/button>\n\t\t\t\t\t\t\t\t<\/div>\n\n\n\t\t\t\t\t\t\t<\/div>\n\n --><\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.theticketingbusiness.com\/2023\/03\/24\/hybe-to-sell-sm-entertainment-stake-to-kakao\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] 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 &hellip; <\/p>\n","protected":false},"author":1,"featured_media":3875,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1193,144,2237,1077,4285,3954,1770],"tags":[],"class_list":["post-4015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bts","category-finance","category-hybe","category-k-pop","category-kakao","category-sm-entertainment","category-south-korea"],"_links":{"self":[{"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/posts\/4015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/comments?post=4015"}],"version-history":[{"count":0,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/posts\/4015\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/media\/3875"}],"wp:attachment":[{"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/media?parent=4015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/categories?post=4015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/tags?post=4015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}