Hybe to acquire 14.8 pct stake in SM Entertainment to become largest shareholder

▲This logo captured from the official webpage of HYBE show the logo of the company. (PHOTO NOT FOR SALE) (Yonhap)

Hybe-SM Entertainment

Hybe to acquire 14.8 pct stake in SM Entertainment to become largest shareholder

SEOUL, Feb. 10 (Yonhap) -- Hybe, the Korean entertainment agency behind supergroup BTS, said Friday it will acquire a 14.8 percent stake in its rival K-pop agency SM Entertainment to become its largest shareholder.

Hybe said in a regulatory filing that it will buy the shares from SM Entertainment founder Lee Soo-man for 422.8 billion won (US$335.8 million).

Lee previously held a 18.46 percent stake in SM Entertainment.

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