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Korea's Hybe completes purchase of 14.8% stake in rival SM

Por: ABC News Entertainment February 22, 2023

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SEOUL, South Korea -- Hybe, the South Korean entertainment company behind K-pop sensation BTS, said Wednesday that it has completed its acquisition of a 14.8% stake in rival SM Entertainment, making it SM’s largest single shareholder.The acquisition was finalized even as SM Entertainment accused Hybe staging a hostile takeover to control the firm by purchasing shares from Lee Soo-man, SM’s founder. Lee's influence in the firm has waned... + full article



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