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