HYBE is now dominating the K-pop industry as it is pursuing a takeover of its peer, SM Entertainment.
On Friday, February 10, HYBE announced that it was acquiring a 14.8 percent stake in SM Entertainment for 422.8 billion won (about $334.3 million).
SM Entertainment is home to South Korean acts NCT, EXO, Girls Generation, and many more.
Moreover, it is founded by Lee Soo Man, who before the deal had an 18.46 percent stake in the company, making him then the largest stakeholder.
Earlier this week, Kakao acquired a 9.05 percent stake from SM, making it the second-largest stakeholder. Lee condemned this move as illegal and is reportedly taking legal action.
HYBE houses many well-known groups in K-pop such as BTS, SEVENTEEN, TOMORROW X TOGETHER, and ENHYPEN.
