EDITION : English/Korean


BTS, TXT, EXO, & NCT, Almost Label Mates? HYBE Previously Almost Acquired SM Entertainment Stocks

by Victoria Marian Belmis / Jun 02, 2021 07:06 AM EDT

SM Entertainment has been in the industry since the very beginning. Notably part of the original 'Big 3' entertainment agencies in South Korea, SM Entertainment is a staple when a hopeful trainee wants to debut in the K-pop industry.

SM Entertainment's founder, Lee Soo Man, is known as one of the most popular producers in the industry. Not long ago, the founder of SM Entertainment talked about considering letting go of his shares of the company.

Recent reports noted that founder of SM Entertainment, Lee Soo Man, was rumored to be in talks to sell his personal SM Entertainment shares to Naver or Kakao Entertainment, either of the two.

At present, as per reports from IB Industry Insiders, HYBE Labels, previously known as Big Hit Entertainment, considered in 2020 to acquire shares of SM Entertainment last year in 2020. Things did not push through though talks did not lead to anything.

Now fast forward to present news, SM Entertainment shared that they are in multiple talks with potential partnerships. But nothing has come to fruition yet. SM Entertainment will be updating the public if any of the discussions materializes into something concrete.

As of writing this article, a week ago on the 27th of May, SM Entertainment shared, "We are discussing multiple aspects of business partnerships and equity investment, but nothing has been confirmed." 

Similarly on the same day, Naver and Kakao also went to announce that both of the companies are considering multiple measures, but nothing has been set in stone as well.

Although Naver and Kakao Entertainment have confirmed that they both are looking into potential acquisitions, partnerships, and deals, things are still to be announced.

Do you think HYBE labels or other companies should have acquired stocks from SM Entertainment? Or do you believe Lee Soo Man should hold on to his shares?

Like us and Follow us
© 2024 Korea Portal, All rights reserved. Do not reproduce without permission.

Editor's Pick

BLACKPINK Rosé Hinted Group’s Contract Renewal


May 18, 2023 PM EDT - Serena Martinez

IU’s Agency Releases Statement on Plagiarism Accusations


May 12, 2023 AM EDT - Serena Martinez

BTS Member RM Posts a Personal Update to Fans

RM from BTS

May 08, 2023 AM EDT - Serena Martinez

Connect with us : facebook twitter google rss

Subscribe to our Newsletter

Don't Miss

Real Time Analytics