BTS agency HYBE joins battle for South Korea's SM with tender offer

BTS agency HYBE buys stake in its K-pop rival

HYBE, the management agency behind superstar boy band BTS, will become the biggest shareholder of its K-pop rival, SM Entertainment.

BTS agency HYBE joins battle for South Korea's SM with tender offer

The news comes just days after SM Entertainment announced a 217 billion won ($172 million) share sale to Kakao Corp on Tuesday, giving the country's top mobile messenger operator a 9.05% stake and SM an ally to counter founder and top shareholder Lee Soo-man.

HYBE strikes deal with SM Entertainment founder Lee Soo-man to become the rival K-pop label’s biggest shareholder

HYBE has struck a deal with SM Entertainment founder Lee Soo-man to become the rival K-pop label’s biggest shareholder.

BTS agency HYBE seeks to take over K-pop rival SM Entertainment

HYBE will buy shares worth $335 million in competitor SM Entertainment and will also seek management rights

BTS agency HYBE joins battle for South Korea's SM with tender offer

SEOUL -- HYBE, manager of South Korean boy band BTS, announced a deal on Friday to buy a 14.8% stake in rival SM Entertainment from its founder, escalating a corporate battle between the godfather of K-pop and estranged management.

K-pop stocks soar after agency behind BTS announced it would become its rival’s top shareholder

The K-pop agency behind BTS is set to become the largest shareholder of SM Entertainment.