Netizens React To The Possibility Of HYBE Purchasing A Stake In SM Entertainment
Netizens reacted to HYBE‘s statement confirming that it is considering purchasing a stake in SM Entertainment.
On February 9, HYBE released a startling statement that might change K-Pop forever.
We are continuously reviewing matters related to purchasing SM Entertainment shares through the public market as well as acquiring shares. At this time, there are no confirmed matters.
The news comes after widely publicized infighting within the company. Recently, SM Entertainment’s executive team announced “SM 3.0,” a plan to move on from label founder Lee Soo Man. Also, Kakao announced it had purchased the second-largest stake in the company, after Lee Soo Man, in a move widely speculated to counter Lee Soo Man’s influence in the company.
Kakao Secures 9.05% Stake In SM Entertainment And Becomes Second Largest Shareholder
Lee Soo Man has since challenged the legitimacy of the sale and threatened legal action.
Lee Soo Man Is Going To Sue SM Entertainment For Illegal Business
Many netizens stated they were against the potential deal, with some expressing concerns that HYBE would become too powerful and monopolize the industry.
- “Sigh, this really isn’t it.”
- “Wow, (HYBE) is going to be so much stronger.”
- “I guess this is how SM will fall.”
- “Honestly, a monopoly is a no-no. (To commenter 121) We don’t like this either, LOL. Who said they want this?”
- “Sigh… Don’t do it.”
Many other netizens speculated that HYBE’s potential purchase of SM Entertainment shares would signal that the company is trying to counter Kakao’s recent purchase while backing Lee Soo Man’s hold on the company.
- “Wow, BTS must have made them a lot of money.”
- “Is HYBE trying to stop SM’s ‘3.0’ plans?”
- “If HYBE holds hands with (Lee Soo Man), then the grandpa gets to stay… That’s crazy, LOL… Bow out quietly!”
- ” (HYBE) is not purchasing Lee Soo Man’s shares, nor are they trying to take over the company. Align Partners and Kakao are breaking their backs, trying to take away Lee Soo Man’s influence in the company, and HYBE would block this from happening. In other words, HYBE’s Bang Si Hyuk is on Lee Soo Man’s side, and tomorrow SM’s stock is going to the moon! Those that are idiotically saying this is a fight between HYBE and SM should not invest in stocks.”
- “So (HYBE) is trying to stop Kakao?”
- “But why is HYBE trying to help Lee Soo Man? What do they have to gain? Would they rather stop Kakao than gain control of SM?”
What are your thoughts?