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CJ joins race for over $200 mn stake in SM Entertainment
Kakao, touted as the strongest candidate, proposes over a 70% premium for SM Entertainment
22 HOURS AGO
SM Entertainment founder and Chief Producer Lee Soo-man (left) and SM s latest group, Aespa
South Korea s entertainment- and food-focused CJ Group has emerged as a darkhorse to buy a controlling stake worth about 300 billion won ($260 million) in SM Entertainment Co., the label behind K-pop groups such as Red Velvet, NCT and EXO.
Jumping into the race for an 18.75% stake in the entertainment powerhouse, CJ Group Vice Chairman Miky Lee, who reportedly lives in the US Virgin Islands, recently took an abrupt trip to Seoul and met with SM founder and Chief Producer Lee Soo-man, The Korea Economic Daily TV reported on Aug. 3. ....

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