SM Entertainment releases statement in support of Kakao’s tender offer

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.

Shaquille O’Neal has released a statement in response to the fans who have expressed concerns about his health.

Respawn Entertainment is opening a third studio to support the development of Apex Legends, weeks after parent company EA laid off over 200 of the game’s testers.Respawn’s third studio will be located in Madison, Wisconsin, and will initially support the company’s battle royale shooter Apex Legends.As reported by GamesIndustry.biz, the studio will be led by Ryan Burnett, who previously worked as Epic Games‘ director of engine production and, prior to that, worked at Call Of Duty developer Raven Software for 14 years.“Wisconsin is quickly becoming a central development hub here,” Burnett told GamesIndustry.biz.

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.

HYBE is ceasing its acquisition of SM Entertainment, the K-pop company announced today (March 12), after a discussion with competitor Kakao.In a press statement, HYBE said it decided to suspend the acquisition after a discussion with tech giant Kakao. “The two companies agreed to cooperate on matters related to their platforms,” it added.HYBE made the decision, it said, “after observing that the market has been showing signs of overheating due to competition with both Kakao and Kakao Entertainment”.

Patrick Frater Asia Bureau Chief Korean tech giant Kakao has gained the upper hand in the battle for control of K-pop agency SM Entertainment, after HYBE Corp., the firm behind music idols BTS, said Sunday that it had called off its takeover bid. SM is the second largest talent Korean music talent firm and is behind music acts including Super M, Aespa, BoA and Red Velvet, Girls’ Generation, H.O.T., EXO, Super Junior, SHINee and NCT Dream. HYBE said on Sunday that it will “discontinue the acquisition process […] after observing that the market has been showing signs of overheating due to competition with both Kakao and Kakao Entertainment,” something that it said could “damage shareholder value.”

thrives on attention from fellow famous peeps. Now, Trump is printing his celebrity Rolodex in a new book featuring 150 private letters sent to him by Oprah Winfrey, Kim Jong Un and other high-profile figures.The “colorful photo book captures the incredible, and oftentimes private correspondence, between President Donald J.

Prince Harry and Meghan Markle‘s spokesperson has released another statement confirming the use of the “Prince” and “Princess” titles for their two children, Prince Archie, 3, and Princess Lilibet, 21 months.

Earlier this month, Vanderpump Rules drama rocked the Internet when it was discovered that Tom Sandoval had an affair with his co-star Raquel Leviss, leading to the end of his nine-year relationship with girlfriend Ariana Madix.

Cristiano Ronaldo and Al-Nassr will be out to extract revenge this week when being reacquainted with fellow Saudi Pro League title contenders Al-Ittihad.

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.

BLACKPINK member Jisoo has finally announced a date for her long-awaited solo debut.At midnight KST today (March 6), the K-pop idol teased her upcoming solo debut on Instagram with an intriguing “Coming Soon” poster. The image confirms a release date of March 31, and features a bright red dress in the middle of a field.Jisoo’s post was accompanied by the caption “See you soon” in Korean.

Jennifer Maas TV Business Writer Fox has named John Hesling its new head of Alternative Entertainment, the broadcast network’s in-house unscripted studio. Responsible for overseeing the development and production of all unscripted series owned by Fox Entertainment (FAE), as well as programs FAE produces for third-party buyers in the U.S. and abroad, Hesling will be based in Los Angeles and report to Allison Wallach, president of unscripted programming at Fox Entertainment. “I am so excited for John to join FAE and lead the incredible team we have assembled,” Wallach said. “His creative vision and vast experience as both a producer and an executive working on a global scale will be key to our strategy of building FAE as a leading provider of innovative series and formats for Fox and third-party platforms throughout the world.”

Naman Ramachandran A film of Coldplay’s sold-out 10-night concert run at Buenos Aires’ River Plate stadium in 2022 will get a worldwide release in April from Trafalgar Releasing. The concert was part of the band’s “Music Of The Spheres” world tour, which sold more than six million tickets. The film, “Coldplay – Music Of The Spheres: Live At River Plate,” is the director’s cut of the Oct. 28, 2022 worldwide live broadcast of the show across 81 countries. It will feature remixed/remastered sound and visuals captured using 30 cameras, racing drones and 360° filming techniques, by BAFTA-winning and Grammy-nominated director Paul Dugdale.

Country music blues. Morgan Evans released a “vulnerable,” five-part docuseries in the wake of his split from Kelsea Ballerini.

EXCLUSIVE: Ley Line Entertainment and FirstGen Content have set an all-star ensemble for its co-production of On Swift Horses as Daisy Edgar-Jones, Jacob Elordi, Will Poulter, Diego Calva and Sasha Calle are on board to star. Daniel Minahan is on to direct with Peter Spears producing alongside Mollye Asher, Tim Headington and Theresa Steele Page on behalf of Ley Line with Michael D’Alto producing on behalf of FirstGen Conent. Bryce Kass is adapting the script.

A student was detained by police after an incident involving an 'imitation firearm' on a university campus. Officers were called in after the drama unfolded at the University of Bolton on Friday (February 24).

SM Entertainment, HYBE has criticised a recent partnership the K-pop agency has forged with South Korean tech giant Kakao.Earlier this month, Kakao shared that it had acquired a 9.05 per cent stake in SM, which would have made it the second-largest shareholder of the company after founder Lee Soo-man. HYBE later announced that it had struck a deal to acquire a 14.8 per cent stake in SM from Lee, thus becoming its biggest shareholder.

SM Entertainment boyband NCT’s “infinite” expansion will come to an end in 2023, the K-pop agency has confirmed.On February 25, SM Entertainment shared the latest in its series of videos about its new ‘SM 3.0’ strategy. In this video, SM’s co-CEOs Chris Lee and Tak Young-jun answered fan questions and also announced the end of boyband NCT’s expansion in 2023.

The Power.” The first three episodes will premiere March 31, with the remaining six episodes available each Friday until the finale on May 12. Based on Naomi Alderman’s novel of the same name, the new sci-fi series follows as a group of teenage girls who have developed the power to electrocute people — and learn to monitor this newfound gift. Toni Collette and John Leguizamo star in the series, along with Auli’i Cravalho, Toheeb Jimoh, Josh Charles, Eddie Marsan, Ria Zmitrowicz, Zrinka Cvitešić and Halle Bush. “The Power” is produced by Amazon Studios and Sister, with Raelle Tucker serving as showrunner,