Streaming company LiveOne was the Billboard Global Music Index’s greatest gainer after rising 13.1%.
HYBE will offload its 15% stake to its South Korean rival, marking an official end to the bidding war that erupted over SM.
Chairman Bang Si-hyuk says HYBE must have a “sense of urgency” in efforts to grow outside its home country.
The agency behind BTS said it was still studying possible avenues for collaboration with SM, once South Korea’s dominant K-pop company.
Billboard’s Global Music Index declined 3.9% this week as 17 of its 20 stocks were in negative territory.
The agency that created BTS is embroiled in a public struggle with SM’s powerhouse founder Lee Soo-man. Will it end with a cliffhanger?
The companies are wrestling for control of SM with competing board slates at the March 31 annual meeting in Seoul.
The announcement came a day after a court injunction forced Kakao to cancel its plan to acquire a 9.05% stake directly from SM.
Tech giant Kakao had agreed to buy shares as part of a partnership agreement, which SM founder Lee Soo Man opposes; he turned to rival HYBE instead.
HYBE, which owns a 14.8% stake in the competing K-pop company, criticized the tie-up with tech company Kakao as one-sided and harmful to shareholders.
Welcome to encircle News! We are a cutting-edge technology news company that is dedicated to bringing you the latest and greatest in everything tech. From automobiles to drones, software to hardware, we’ve got you covered.
At encircle News, we believe that technology is more than just a tool, it’s a way of life. And we’re here to help you stay on top of all the latest trends and developments in this ever-evolving field. We know that technology is constantly changing, and that can be overwhelming, but we’re here to make it easy for you to keep up.
We’re a team of tech enthusiasts who are passionate about everything tech and love to share our knowledge with others. We believe that technology should be accessible to everyone, and we’re here to make sure it is. Our mission is to provide you with fun, engaging, and informative content that helps you to understand and embrace the latest technologies.
From the newest cars on the road to the latest drones taking to the skies, we’ve got you covered. We also dive deep into the world of software and hardware, bringing you the latest updates on everything from operating systems to processors.
So whether you’re a tech enthusiast, a business professional, or just someone who wants to stay up-to-date on the latest advancements in technology, encircle News is the place for you. Join us on this exciting journey and be a part of shaping the future.
