HYBE becomes top shareholder in rival SM Entertainment
K-pop stocks have soared after HYBE (BTS, NewJeans) became the top shareholder in its biggest rival SM Entertainment
News By Lisa Henderson | 10 February 2023
K-pop behemoth HYBE has become the largest shareholder in SM Entertainment, the rival South Korean company thought to have kickstarted the wave of popularity around Korean pop culture.
The purchase of KRW 422.8 billion shares — a 14.8% stake — was reported today (10 February) and helps strengthen HYBE’s position as a leader in K-pop. Reportedly, the company pledged in a separate notice to buy another 25% stake.
Through its subsidiary labels, such as Big Hit Music, Pledis Entertainment, Source Music and ADOR, HYBE is…
You've used your free article this month
Continue reading with a free account, or subscribe for unlimited access to all of our news, features and reports.
