HYBE

It's official: HYBE has inked a deal with SM Entertainment founder Lee Soo Man that will make it the largest shareholder of the company.

Lee Soo Man then flew back to Korea and declared that he would be taking legal action against SM Entertainment for violating the Commercial Act by illegally issuing new shares of the company and convertible bonds without the agreement of the top shareholder (Lee Soo Man) during a management dispute. Last week, SM Entertainment’s current CEO Lee Sung Soo (who is Lee Soo Man’s nephew) and COO Tak Young Jun announced their vision for a newly restructured “SM 3.0,” which involved cutting ties with SM Entertainment’s longtime producer Lee Soo Man. Earlier this week, Kakao became the

The agency says it is seeking management rights to strengthen its position in the K-pop industry.

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On February 10, HYBE Labels confirmed that it has purchased 14.8% of shares in SM Entertainment from founder Lee Soo Man, formally…

In response, HYBE Labels will make substantial investments toward increasing the potential and efficiency of SM Entertainment's internal management. Various SM Entertainment affiliates intend on transferring their shares to HYBE Labels as to also show their cooperation in the company's re-organization. HYBE Labels also added on, "In such a turbulent environment such as the global music market, SM Entertainment was the key agent which revolutionized Korea's music industry and allowed for its sustainable growth.

SEOUL, Feb 10 — South Korean entertainment company HYBE said on Friday it will buy shares worth 423 billion won (RM1.45 billion) in rival SM Entertainment, ...

The septet is set to return in full only in 2025. HYBE has also tendered an offer on Friday for SM shares held by minority shareholders, seeking to buy up to 25 per cent of the rival agency with the intention of acquiring management rights. The move will make HYBE the largest shareholder of SM Entertainment as it takes over a 14.8 per cent share in its rival purchased from an 18.4 per cent stake held by the previous largest shareholder and SM founder, Lee Soo-man, it said in a statement.

SM Entertainment was founded by Lee Soo Man, and "SM" are the initials of his name. The company has been operated over the years with the founder's mindset, "I ...

After Lee Soo Man reached out to HYBE, Lee Soo Man had no choice but to let go of the SM he had been holding on to. One example of how Lee Soo Man is holding SM back is the fact that he is set to He continued to explain, "For Lee Soo Man that means his profits from SM has disappeared. The current management of SM could no longer stand by and watch Lee Soo Man's unfair profit gains; therefore, they partnered up with Align Partners and sought to improve the operation structure. SM Entertainment was founded by Lee Soo Man, and "SM" are the initials of his name. In other words, Lee Soo Man will be able to gain an additional 80 billion KRW (63 million USD) for the next 70 years, even after the contract between SM Entertainment and 'Like Planning' was terminated.