K-Pop: HYBE and Kakao End Hostilities in Takeover Battle for SM Entertainment

Korean tech giant Kakao has gained the upper hand in the battle for control of K-pop agency SM Entertainment, after HYBE Corp., the firm behind music idols BTS, said Sunday that it had called off i…

for a 35% stake in SM. That easily trumped HYBE’s open market offer of KRW120,000 to buy a further 25% of SM’s shares and drove SM’s share price to a new high of KRW147,800 at the close of trading on Friday.

In its own statement, Kakao said that it will continue to buy SM shares through March 26 as planned under its tender offer. The moves would appear to give Kakao management control at SM, leaving HYBE with an unspecified deal to co-operate with a Kakao-controlled SM in “platforms” or online business. HYBE controls Weverse the powerful fan platform that is used by BTS and other acts.

このニュースをすぐに読めるように要約しました。ニュースに興味がある場合は、ここで全文を読むことができます。 続きを読む:

Variety /  🏆 108. in US

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

Explainer: How Kakao won a takeover battle against HYBE for K-pop pioneer SM EntertainmentSouth Korean K-pop pioneer SM Entertainment Co Ltd is poised to fall under the grip of social media giant Kakao Corp after HYBE Co Ltd , the agency representing boy band BTS, on Sunday dropped a bid to take control.
続きを読む »

HYBE and Kakao settle to stop competing over acquiring SM Entertainment | allkpopIt was reported Kakao and HYBE have settled to stop the chicken game over the acquisition of SM Entertainment. According to the financial …
続きを読む »

[BREAKING] HYBE suspends SM Entertainment acquisition after coming to agreement with Kakao | allkpopHYBE has put out a new statement regarding the agreement they have made with Kakao over SM Entertainment.The statement, released on March 12 …
続きを読む »

SM Entertainment Makes Statement Regarding HYBE And Kakao’s AgreementSM Entertainment Makes Statement Regarding HYBE And Kakao's Agreement
続きを読む »

K-pop giant HYBE drops bid for SM Entertainment, ending takeover battleHYBE Co Ltd , the agency representing top-selling South Korean boy band BTS, withdrew its plan to take control of SM Entertainment Co Ltd , the company said on Sunday.
続きを読む »

HYBE & Kakao hold second meeting to come to a settlement on the acquisition of SM | allkpopAccording to media outlet reports on March 11 KST, representatives of HYBE and Kakao held a private meeting on the afternoon of March 10 to discuss …
続きを読む »