It was previously reported that Lee Soo Man had been in discussions for promoting his shares in SM Entertainment to both Naver or Kakao Entertainment. However, a latest report in Korean media shared that there had been a earlier firm that sought to buy shares in SM Entertainment.
According to IB trade insiders, HYBE Labels (also called BigHit Entertainment) had thought of the acquisition of SM Entertainment shares in 2020. However, it was ultimately canceled. If that they had acquired a major quantity of shares, it could be doubtless that they’d have a say within the course of the corporate.
In different information, SM Entertainment has introduced that whereas they’re having numerous discussions on the acquisitions and partnerships, nothing has been set in stone. They will probably be making one other announcement inside a month or so when extra issues have been confirmed. Naver and Kakao Entertainment have additionally introduced that whereas they’re certainly contemplating the acquisitions and offers, they haven’t determined upon something but intimately.