In a rare event that happens every decade or so, a war is being waged around SM Entertainment, one of the most successful entertainment companies in South Korea, which manages several world-famous K-pop groups. This time, the struggle for management control is between Kakao, the internet conglomerate, and HYBE, another K-pop company that has the ridiculously popular group BTS on its roster. The tussle is over the controlling stake of SM held by its founder, Lee Soo-man, and is challenged by a consortium comprised of SM management, Kakao, and activist fund Align Partners.
Korean music megacorporation Hybe, owner of boyband phenomenon BTS, has caught the eye of South Korean regulators following its 13% stake acquisition of.
SEOUL As the company behind K-pop royalty BTS seeks to build a big stake in a prominent rival for close to $900 million, a vocal activist fund is playing
SEOUL As the company behind K-pop royalty BTS seeks to build a big stake in a prominent rival for close to $900 million, a vocal activist fund is playing a leading role in the target’s all-out efforts to stay independent.