News Formal

In SM Entertainment activist investor triggers real-life K-pop industry drama

  • 📰 inquirerdotnet
  • ⏱ Reading Time:
  • 60 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 86%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

It is the kind of K-drama that rivets millions of viewers—bitter boardroom battles and hostile takeover claims. Except it's playing out in real life as the godfather of K-pop fights his nephew for control of the music company he founded. | AFP

Ogie Diaz reminds Liza Soberano she was shooting two projects when ‘Hello, Love, Goodbye’ was offered

“It didn’t make sense,” Lee Chang-hwan told AFP in a recent interview, saying the money—six percent of publicly listed SM Entertainment’s sales every year—was paid to a private entity called Like Planning, which was entirely owned and controlled by Lee Soo-man. He founded the company in 1989 and took it public in 2000—so he was predictably outraged last year when SM Entertainment’s management, including his nephew, agreed with activist investor Lee Chang-hwan’s assessment and moved to terminate the “unfair” deal with Like Planning.

In a bid to wrest back control, SM’s management brought in South Korea’s Kakao, a sprawling cash-rich tech conglomerate that owns the country’s most popular messaging app. Kakao is now seeking to buy a controlling share of the company to block HYBE.The feud has unleashed a family succession drama, with founder Lee’s nephew, Lee Sung-su, who is the company’s CEO, taking to YouTube to air their dirty laundry.

Lee Soo-man has not responded to his nephew’s allegations, and could not be reached for comment by AFP, but Yonhap reported he has said Lee Sung-su is a “good nephew” and that his “heart aches” due to the feud.

 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.
이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 3. in KR

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

South Korea companies to pay to resolve forced labor dispute with JapanThe plan faces immediate backlash from some victims and South Korea's main opposition party, who accuse the government of capitulating to Japan link to article: , kyodo_english,YonhapNews What happened? to the $300 million that Japan gave the South Korean gonment vernment for the forced-labor victims? That $300-million payment from Japan should be acknowledged by the South Korean government. link to article: ,reuters,YonhapNews,President_KR hhat happened to the $300 million that Japan gave the South Korean gonment or the forced-labor victims? That $300-million payment from Japan should be acknowledged by the South Korean government. link to article: ,reuters ,YonhapNews,President_KR What happened to the $300 million that Japan gave the South Korean gonment or the forced-labor victims? To prevent any misunderstsnding, that paymrnt should be acknowledged by S. Korean gov't.
출처: rapplerdotcom - 🏆 4. / 86 더 많은 것을 읽으십시오 »