Watch: SM Entertainment Releases Video Statement Regarding Their Stance Against HYBE’s Acquisition
On February 20, SM Entertainment uploaded a video to their official YouTube channel titled “The reason why SM is against HYBE’s hostile takeover,” detailing at length the reason behind their opposition against HYBE’s M&A .
In the video, SM Entertainment CFO Jang Cheol Hyuk begins by stating, “As soon as SM’s new vision ‘SM 3.0’ was announced, the largest shareholder sold his stake, and a hostile takeover attempt by a competitor started. This is an attempt that ignores not only the fierce deliberation and efforts of the 600 SM employees who have dreamed of becoming the No. 1 entertainment company in the world, but also the values and pride of SM that it has pursued together with the fans and artists.
The synergies talked about in the market are for HYBE shareholders, not for SM shareholders or for K-pop. HYBE intentionally evaded FTC review—SM’s corporate value will be undermined in the process of FTC review.Source (
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