SM Entertainment has formally put a 20% stake up for sale, including Lee’s own 18% holding. Major conglomerates are getting ready to take up the mantle, with the aim of propelling themselves and K-pop further onto the world stage.
With the emergence of BTS in 2016, the three fiefdoms became four. The band’s global success transformed the fortunes of former JYP executive Bang Si-hyuk and his Big Hit Entertainment that had toiled in relative obscurity since 2008. Hybe also bolstered its digital capabilities by attracting a $363 million investment from Korean internet giant Naver into its beNX digital development unit. It cemented a partnership with Universal Music. And, in a further sign of the changing times, Hybe also struck a cooperation deal with YG Plus , a music distributor and talent agency under YG Entertainment.
These make SM Entertainment an attractive conquest for a wealthy new entrant into the inner circle of the K-pop realm.
SuperM 😍
BTS was formed in 2013, not in 2016.
SHOCKING. JENNIFER LOPEZ SAID THIS! 😭😭😭