Tencent to Become Second-Largest Shareholder in K-Pop Agency | Honolulu Star-Advertiser

Tencent to become second-largest shareholder in K-Pop agency | Honolulu Star-Advertiser

SEOUL >> China’s Tencent is expected to become the second-largest shareholder of major K-Pop agency SM Entertainment, according to a South Korean filing on Tuesday.

K-pop powerhouse HYBE to sell entire stake in SM Entertainment to China's Tencent

K-pop powerhouse HYBE said Tuesday it will sell its entire stake in rival SM Entertainment to Tencent Music Entertainment Group, a subsidiary of China's tech giant Tencent, for about 200 billion won ($145.5 million). Through the deal, Tencent Music will become the second-largest effective shareholder in SM Entertainment, following Kakao and Kakao Entertainment, which together hold a 41.5 percent stake. HYBE said in a regulatory filing that it wi…

China’s Tencent acquires 9.7% stake in SM, becoming key K-pop power broker

Tencent Music Entertainment has acquired a 9.7% stake in SM Entertainment, purchasing the entire block previously held by HYBE for about $177 million (243.3 billion won). The transaction, set to finalize by month’s end, makes Tencent the second-largest shareholder in SM, behind Kakao and its affiliate Kakao Entertainment, which together hold a 41.5% stake. The […] The post China’s Tencent acquires 9.7% stake in SM, becoming key K-pop power broke…

HYBE, SELLS STAKE IN SM ENTERTAINMENT TO TENCENT... FOR 243 BILLION KRW

HYBE has officially announced the sale of its entire stake in SM Entertainment to China’s Tencent.On May 27, HYBE officially announced the sale through a public disclosure. According to the filing, the buyer is China’s Tencent Music Entertainment, which will acquire all 2,212,237 shares held by HYBE. The shares are being sold at 110,000 won (approximately $80) each, for a total transaction value of 243.35 billion won (approximately $177 million)…

Tencent to Become Second-largest Shareholder in SM Entertainment After $177 Million Deal with HYBE - K-POP NEWSWIRE

HYBE, the agency behind BTS, TXT, and NewJeans, has sold its entire 9.66% stake in rival SM Entertainment to China’s Tencent Music Entertainment (TME) for 243.35 billion KRW ($177 million). The deal, set to close on May 30, marks HYBE’s full exit from SM after a contentious 2023 takeover battle. It now positions Tencent as SM’s second-largest shareholder behind Kakao (42%). On Tuesday (May 27), HYBE revealed its intention to sell the remaining s…

Hybe has decided to sell its entire stake in SM Entertainment (SM) to China’s Tencent Music.On May 27, Hybe announced its decision to sell 9.38% (2,212,237 sha