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SM Acquires Post-production Company to Accelerate Metaverse Business

SM Acquires Post-production Company to Accelerate Metaverse Business

SEOUL, April 26 (Korea Bizwire) — SM Entertainment, a K-pop powerhouse, said Wednesday it has acquired a local post-production company to reinforce its metaverse and content business capabilities. SM said it acquired a 51 percent stake in Studio Clon a week ago through Studio Kwangya, the agency’s subsidiary specializing in the production of content for [...]

Kakao Secures 40 pct Stake in SM Entertainment Through Tender Offer

Kakao Secures 40 pct Stake in SM Entertainment Through Tender Offer

SEOUL, March 28 (Korea Bizwire) — South Korean tech giant Kakao Corp. said Tuesday that it has secured a total 40 percent stake in SM Entertainment through a tender offer, gaining management control over the K-pop powerhouse. Earlier this month, Kakao and its entertainment unit, Kakao Entertainment Corp., had offered 150,000 won (US$115.4) per share [...]

Hybe Says It Will Halt SM Entertainment Takeover Bid, Seek Platform Cooperation

Hybe Says It Will Halt SM Entertainment Takeover Bid, Seek Platform Cooperation

SEOUL, March 12 (Korea Bizwire) — Hybe, the K-entertainment powerhouse behind global superstar BTS, said Sunday it has decided to halt its bid to take over industry giant SM Entertainment in an agreement with Kakao Corp. The tech giant Kakao and its entertainment unit, Kakao Entertainment Corp., will have management control over SM Entertainment, while [...]

Kakao Announces Tender Offer to Gain Stable Management Control over SM Entertainment

Kakao Announces Tender Offer to Gain Stable Management Control over SM Entertainment

SEOUL, March 7 (Korea Bizwire) — South Korean tech giant Kakao Corp. on Tuesday announced a tender offer for SM Entertainment Co. shares to gain stable management control over the K-pop powerhouse and increase leverage to win the intensifying battle with Hybe. Kakao and its entertainment unit, Kakao Entertainment Corp., offered 150,000 won (US$115.4) per [...]

Court Blocks SM Entertainment’s Planned Share Sale to Kakao

Court Blocks SM Entertainment’s Planned Share Sale to Kakao

SEOUL, March 4 (Korea Bizwire) — A Seoul court on Friday blocked K-pop agency SM Entertainment Co.’s planned issuance of new shares and convertible bonds to an entertainment arm of tech giant Kakao Corp. The Seoul Eastern District Court granted an injunction filed by SM’s estranged founder Lee Soo-man, barring Kakao Entertainment’s deal to become [...]