Hybe to acquire SM Entertainment
This photo shows the headquarters of Hybe, the Korean entertainment agency behind supergroup BTS, in Seoul on Feb. 10, 2023. Hybe said in a regulatory filing that it has agreed to buy shares in SM Entertainment from founder Lee Soo-man for 422.8 billion won (US$335.8 million) to become its largest shareholder and the deal will be sealed on March 6. Lee currently holds an 18.46 percent stake in SM Entertainment. (Yonhap)
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