K-Pop: HYBE and Kakao End Hostilities in Takeover Battle for SM Entertainment

Patrick Frater Asia Bureau Chief Hybe Corp., the talent powerhouse behind K-pop sensation BTS, said on Friday that it will sell its share stake in agency rival SM Entertainment. The move would finalize Hybe’s admission of defeat in a dramatic takeover battle in which it was out-gunned by Korean tech leader Kakao Corp. Hybe initially bought a 14.8% stake in SM in February from SM’s founder and K-pop pioneer Lee Soo-man. Hybe expected to be able to buy the remaining 3% tranche held by Lee according to agreed conditions and then launched an open offer to other shareholders to buy a further 15%. But SM’s management opposed Hybe’s quasi-takeover and harnessed Kakao and its subsidiary Kakao Entertainment with a range of measures. These included a content distribution deal and the sale of newly issued shares and bonds to the Kakao pair.

Riley Keough – the first granddaughter of music icon Elvis Presley – was born into fame, but the spotlight on her has reached new highs in the past year, for a myriad of reasons.The star's famous family, particularly her grandfather, was the focus of the award-winning Baz Luhrmann biopic Elvis, starring Austin Butler. Her family received increased attention during press roll-out for the film, as well as, unfortunately, following the January 12th death of her mother Lisa Marie Presley, and the subsequent legal battle over her estate between Riley and Priscilla Presley.Plus, Riley is now the star of Daisy Jones & the Six, the highly-anticipated book-to-television adaptation based on a novel from Taylor Jenkins Reid, which hit Prime Video March 3rd, and its tenth and final episode airs March 24th.WATCH: Lisa Marie Presley's last on-screen interview with daughter Riley KeoughMORE: Riley Keough is uber-glam in feathered robe and knee-high leather bootsWith newfound success and attention, and, sadly, after becoming the sole trustee of her mom's million-dollar estate, Riley's net worth is about to change too.Though she has a reported net worth of $5 million, granted that she gets to remain sole trustee of Lisa Marie's estate – Priscila contested the decision to make her so – it will only become bigger.MORE: Riley Keough shares intimate details of marriage as she gives rare glimpse into relationshipShe and her grandmother have been at odds since Lisa Marie's passing, especially over an amendment she made to her will which made Riley, as opposed to Priscilla and Lisa Marie's former business manager Barry Siegel, the sole trustee.

Riley Keough has mixed emotions about the ongoing battle over Lisa Marie Presley's estate.A source tells ET that «the family drama is the last thing Riley wants to be dealing with» and that she's «deeply upset at how things are unfolding.» That being said, the source said «she hopes to still be a huge part of Harper and Finley's lives.»A second source said, «Riley is hopeful everything in her family will work out.»As ET previously reported, Lisa Marie's ex, Michael Lockwood, formally asked the court to appoint him as guardian ad litem so he can represent Lockwood's twin daughters — and Riley's sisters — Harper Vivienne Ann Lockwood and Finley Aaron Love Lockwood.In the docs, obtained by ET, Lockwood clearly states he wants to officially be appointed as the twins' guardian because «the minor is a beneficiary of a trust at issue before the probate court» and the «minor requires appointment of a guardian ad litem to represent her interests in the proceeding.»Just days after Lockwood's request, Lisa Marie's attorney, Gary Fishbein, attended a custody hearing via Zoom, and told Judge Joseph Lipner that the custody case should be dismissed because nothing else regarding the custody battle is pending and his client is «sadly no longer with us.» Lisa Marie died on Jan. 12.Fishbein said their marriage status was dissolved and child support — for Harper and Finley — order survives.

Working things out. Lisa Marie Presley’s death has caused both emotional and legal turmoil for her famous family.

The feud between Priscilla Presley and Riley Keough is getting messier.

HYBE founder Bang Si-hyuk has opened up about its battle against Kakao to acquire shares of K-pop agency SM Entertainment.Today (March 15), Bang delivered a keynote speech at the Gwanhun Forum, hosted by the Gwanhun Club, an association of senior journalists in Korea. Held at the Korean Press Center in Seoul, South Korea, the forum provided attendees the opportunity to gain insight into Bang and HYBE’s vision of the K-pop industry.During a Q&A session at the event, Bang opened up about HYBE’s recent attempt to acquire SM Entertainment, and its battle against South Korean internet giant Kakao over the K-pop agency.

Priscilla Presley and granddaugther Riley Keough over the estate and will of Lisa Marie Presley, who died on January 12th after suffering from cardiac arrest.The Daisy Jones & the Six actress and her grandmother have been at odds since Lisa's passing, especially over an amendment Lisa Marie made to her will in 2016 which made Riley, as opposed to Priscilla and Lisa Marie's former business manager Barry Siegel, the sole trustee.The estate she left behind includes Graceland, the Mempis, Tenn. home Elvis Presley bought in 1957 for $100,000 at age 22, and which today generates millions of dollars a year in revenue.WATCH: Lisa Marie Presley's last on-screen interview with daughter Riley KeoughMORE: Riley Keough and Ben Smith-Petersen's relationship timeline as they confirm the arrival of their baby girlThe iconic property is the latest source of contention in the ongoing dispute, after rumors swirled that Priscilla had been locked out from the home, which she moved into in 1963 at age 18.

Now, this is a MAJOR power play!

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Michael Lockwood has formally asked the court to appoint him as guardian ad litem so he can represent his twin daughters' interest in Lisa Marie Presley's trust battle.According to legal docs, obtained by ET, Lockwood filed the legal documents in Los Angeles County Superior Court on Thursday and said he should be appointed as the guardian to represent 14-year-old twin daughters Harper Vivienne Ann Lockwood and Finley Aaron Love Lockwood in an upcoming hearing in probate court, which is slated for April 13.In the documents, Lockwood notes he wants to officially be appointed as the twins' guardian because «the minor is a beneficiary of a trust at issue before the probate court in the above-referenced case. The minor requires appointment of a guardian ad litem to represent her interests in the proceeding.»He added, «There is no conflict regarding appointment because the proposed guardian is not a beneficiary of the trust instrument at issue.»Harper and Finely each signed the form consenting to Lockwood being their guardian.This is the latest development in Lisa Marie's ongoing trust battle.

Michael Lockwood has filed a new petition to become the guardian ad litem of his and Lisa Marie Presley’s twin daughters amid the Presley family’s will battle, Us Weekly can confirm.

Keke Palmer’s family is looking happy.

Lisa Marie Presley's sudden and tragic passing on January 12, her family members she left behind, including her eldest daughter Riley Keough and her mother, Priscilla Presley, have not only been mourning her, but they've also been embroiled in legal drama over the late singer's estate.The two women have been in a tense battle over Lisa Marie's will, especially over an amendment the star made to it in 2016 which made Riley, as opposed to Priscilla and Lisa Marie's former business manager Barry Siegel, the sole trustee.Priscilla and Barry had been co-trustees since 2010, but in 2016, they were removed in favor of Riley and her late brother Benjamin Keough, who died by suicide at age 27 in 2020.WATCH: Lisa Marie Presley's last on-screen interview with daughter RileyMORE: Priscilla Presley says Elvis Presley would say 'you are me' of Austin Butler's portrayal of himBeing that Lisa Marie is the only daughter of the late Elvis Presley, Graceland – the home the King of Rock bought in 1957 for $100,000 at age 22, and that today generates millions of dollars per year in revenue – is at stake.Also at risk, is a 15 percent stake in Elvis Presley Enterprises, which since 2016 was meant to go to Riley. This contributes to the millions of dollars the Presley estate generates each year.MORE: Riley Keough recalls her relationship with stepfather Michael Jackson: 'I loved him'Since 2013, Authentic Brands Group has owned the rights to Elvis, and though Lisa Marie remained owner of Graceland until her death, the deal called for new management of the property.

She was the mediator. Prior to Lisa Marie Presley‘s death, Riley Keough served as the go-between for her mom and grandma Priscilla Presley.

K-pop agency SM Entertainment, escalating its battle against BTS label HYBE.Kakao and its subsidiary Kakao Entertainment said today (March 7) in a regulatory filing that it is tendering an offer to buy up to 35 per cent of SM Entertainment for ₩150,000 per share – a 25 per cent hike over HYBE’s own bid last month. If successful, the offer could see Kakao own nearly 40 per cent of the entertainment agency, up from its current 4.9 per cent stake.“With the direction of the three companies’s growth facing a threat, Kakao decided it is inevitable to secure the largest shareholder position to protect the partnership with SM Entertainment,” Kakao said in a statement, per Reuters, adding that the bid is to ensure stable management at the music label.Kakao’s new offer sent SM Entertainment shares soaring 14 per cent to ₩148,500 today, according to Reuters.

Patrick Frater Asia Bureau Chief Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) has increased its stake in Japanese film and TV studio Toei Company, from 5% to 6.03%, according to a report by the Reuters financial news agency. The move comes shortly after Toei published a ten-year plan for international expansion. Toei includes film and TV production operations, the T-Joy cinema chain and Toei Animation. Last month, it said that it had beaten its film revenue record, thanks to the success of titles including “The First Slam Dunk,” “The Legend of Butterfly” and “One Piece Film Red.” The stake increase also follows PIF’s February announcement that it had increased its stake in Japanese games and console maker Nintendo to 8.26% and that (along with the Singapore state fund GIC) was a buyer of a $966 million bond issue from Korean entertainment-tech firm Kakao Corp.

says, shooting a sex scene with your real-life spouse is a better idea in theory than in reality. Promoting her new series on Late Night with Seth Meyers, Keough explained that the show's producers “thought it would be so funny” if her character's one-night-stand was played by Keough's actual husband, Ben Smith-Petersen. Unfortunately, the intimate scene didn't go quite as smoothly as anticipated.“I think that they were thinking that it would be less awkward,” Keough told Meyers, “And then we got there and we were like, ‘This is really uncomfortable.’” She added, laughing, “For one, I've never had pretend sex with my husband.” The actor explained that normally for a scene like this, she'd meet her acting partner and then just get down to business like professionals.

Riley Keough and her husband Ben Smith-Peterson filmed a sex scene for her new series Daisy Jones & the Six, and she spilled some tea about the experience.

Patrick Frater Asia Bureau Chief HYBE Corp., the talent firm behind K-pop sensation BTS, has launched a campaign to woo the shareholders of SM Entertainment, the rival Korean talent empire in which it is poised become the largest single shareholder. In a letter and video package, issued Thursday, HYBE said that it was launching a campaign website detailing its business strategy and the ways in which it plans to prioritize SM shareholders. The documents directly criticized SM’s current management and also struck out at Korean entertainment-tech giant Kakao, with which SM has recently struck an alliance.

Riley Keough was extremely moved by Austin Butler‘s portrayal of her grandfather — but with all the tension between her and her grandmother Priscilla Presley, it looks like she won’t be able to support him as much as she might want to…