Hybe walks away from SM acquisition battle
Article: Hybe halts SM acquisition process... settles on platform deal and passes management rights to Kakao
Source: Insight via Instagram
1. [+42] Whoever ends up getting it, I'm sure they'll figure it out
2. [+34] So China gets SM after all. Kakao has Chinese funds. Sorry we couldn't protect you, Aespa.
3. [+26] SM with that Chinese money now
4. [+23] Hybe's goal in the first place was the 'Dear U' platform so the platform deal they settled on is probably 'Dear U' and that means Hybe still came out ahead. The desperate party in this deal is Kakao. Soo Man got his money and Hybe got what they ultimately wanted. However, now I'm wondering what's going to happen to Lee Sung Soo.
5. [+19] Why is Hybe acting like they're doing everyone a favor by stepping out when all they had were shares and were not in any position with actual power ㅋㅋㅋㅋㅋㅋ
6. [+11] I just want the best for Hybe, SM, and Kakao... without Chinese investments 🥲🥲🥲
7. [+8] Absolutely hilarious how everyone loves ragging on Kakao for their Chinese funds when you would all die if you had to go even an hour without Kakao apps
8. [+1] SM should change their name to Shanghai Media then
9. [+1] Hybe should just be honest and admit that they couldn't get the money on time
10. [+1] Drives me nuts how people keep calling Kakao 'Chinese money'... it's Saudi money, guys.
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Source: Idol Issue via Instagram
1. [+81] Hybe was always the better option than Kakao. Kakao has too many issues.
2. [+57] So embarrassing for SM... they're being treated like a shuttlecock, being passed back and forth
3. [+24] Hybe never had administrative rights in SM in the first place ㅋㅋㅋㅋㅋㅋ
4. [+22] In summary: Hybe knew that they needed to vary their income source instead of relying on one stream from BTS so they set out on their multi-label plan by acquiring Pledis, Ithaca Holdings, and QC Music to diversify their sales. They then came upon an opportunity with SM where they were able to buy 15% of the shares from their largest shareholder, Lee Soo Man. They went 300 billion won into debt to try and buy out shares from smaller shareholders in tender offers and get up to 38%. Ultimately, their acquisition attempt failed, as they only got 1% from Hyosung. Kakao had enough funds to get up to 35% in tender offers, which ended with Kakao acquiring SM and Hybe joining them through the platform business as the final settlement.
5. [+22] I hated both options anyway... please just leave SM alone
6. [+18] SM, stand on your own~ why do they seem like a kid stuck between divorced parents
7. [+16] Even if Hybe had won the acquisition, what would they have done other than disband a bunch of groups
8. [+13] If only Lee Soo Man would quietly leave instead of causing all this mess... ㅋㅋㅋㅋㅋ
9. [+13] SM is not SM without Lee Soo Man
10. [+10] SM feels more like Hybe and Kakao's toy at this point
11. [+10] Well, that's it for the idol industry then
12. [+10] Soo Man grandpa, you're pissing me off.. just leave everything as it is
13. [+5] Doesn't sound like Hybe's "sharing" anything... they just settled
14. [+2] What do they mean by platform business.....
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Source: Naver
1. [+719, -35] I seriously despise Kakao now. There's no solution but to hope for their demise...
2. [+352, -23] Now even SM has been passed over to Chinese money...
3. [+280, -6] It's all planned. Huge Chinese investments stand behind Kakao, and I'm sure there's a reason why our government's allowed them to get their hands on every industry like an octopus.
4. [+199, -9] Kakao's really just eating every industry up... I hate this. SM's really going to flop now.
5. [+60, -1] Guess we're going to be seeing an influx of Chinese trainees in SM now... and China will get to start claiming K-Pop as theirs. I wish Kakao would go bankrupt already.
6. [+12, -1] SM's going to be bustling with Chinese idols soon ㅋㅋ
7. [+11, -2] How can you compete against all that Chinese money backing Kakao...
8. [+7, -0] I hope SM artists will transfer over to Hybe or something..
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