“If HYBE buys SM, it is basically a monopoly.”
Recent rumors surrounding HYBE Labels‘ potential renewed interest in acquiring SM Entertainment have stirred quite a response from Korean netizens.
The buzz around these entertainment industry giants’ intentions stems from reports hinting that Kakao, who acquired SM early last year, may be exploring the idea of divesting from the K-Pop giant. This mere possibility set off a wave of discussions within the K-Pop community. While Kakao swiftly refuted these claims, the discussions persisted.
Recent reports from ChosunBiz claim that several companies, including HYBE, NCSOFT, F&F, MGM, and even SM Entertainment founder Lee Soo Man, have made moves that point to reignited interest in acquiring (or re-acquiring in Lee’s case) the company.
Last year’s fiasco between HYBE, Lee Soo Man, and SM Entertainment’s then-CEO Lee Sung Soo garnered a lot of attention — with netizens and fans of SM artists anxious over the company’s future. Thus, it’s understandable why the focus is back on the company, as everyone hopes a repeat of last year’s “drama” can be avoided.
Netizens have not been shy about sharing their perspectives on this matter. While some question the truthfulness of these reports, others have more negative feelings towards HYBE’s rumored interest. Most of them stem from worries over the K-Pop giant’s potential consolidation of power.
- “They already said they aren’t selling. They made the decision awhile back, so why are they still writing articles about this?”
- “I wish HYBE weren’t the ones to buy SM. If HYBE buys SM, it is basically a monopoly.”
- “HYBE says they don’t have the money to buy SM, but of all the parties interested in buying SM, I bet HYBE has the most money.”
- “I don’t care anymore, let them do what they will…”
- “I’ve seen so many contradicting reports. I can’t believe these articles anymore.”
It remains to be seen whether the industry insiders’ words are true, and if so, which company will make a move to buy SM Entertainment from Kakao. For now, the South Korean tech giant remains set on their word that SM Entertainment is, in fact, not up for sale.