-- Feb. 7: Kakao agreed to buy a 9.05% stake in SM through new shares and convertible bonds for 220 billion won ($170 million) to form a strategic partnership. The deal was meant to close on March 6.
-- Feb. 8: SM Founder Lee filed an injunction with a Seoul district court to stop SM from issuing shares and convertible bonds that would be bought by Kakao.
-- Feb. 10: HYBE agreed to buy a 14.8% stake in SM from its Founder and top shareholder Lee and announced a tender offer to secure an additional 25% stake in SM by March 1.
-- Feb. 16: SM was said to put its cash cows up for sale – management agency KeyEast Co. and movie and drama production studio SM C&C Co. It dropped the online fan community operator DearU Co. from the sale list.
-- The same day, SM co-CEO Lee Sung-soo, a nephew of Lee’s deceased wife, created a YouTube channel and disclosed allegedly behind-the-scenes global business contracts between the entertainment giant and Lee’s Hong Kong-based private company.
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