HYBE has signed an exclusive contract with Lee Sooman to acquire 14.8% (423 billion won (~$335 million USD)) of SM Entertainment

[My Everything]

 

[Moon Jellyfish]

Wow, it really happened :O.

 

I woder how much or what type of power HYBE will have in SM's decisions. I know being a major stockholder, they have considerable pull compared to other holders. But, I imagine it might not be as much compared to the labels they acquired. 

 

 

 

 

 

 

[soman]

[Moon Jellyfish]

Some more info

 

 

 

 

 

 

 

 

[CandyCane23049]

This is insane.

[Iljin Oppa]

I knew LSM would be SM's undoing.

I've been saying for ages that they need to put that old goblin in a nursing home because he's the mastermind behind some of SM's worst decisions over the last decade.

Now it sounds like SM had the same idea of ousting him and the geriatric fartbag pathetically went crawling to his competitors that he'd talked so much smack about to throw his company under the bus.

Anyways, hopefully this means that his influence is vanquished from the company and now they're able to retain their standard of music with less of the stupid gimmicks.

 

[Mystic]

Holy shit - the only words that come to mind

[Zack Morris]

I feel sad for all the idols who’ve got to suffer thru this. like it’s been bad business decision after bad business decision over there, they need to throw LSM and his entire family away!

[Belkiss]

 

Edited February 9 by Belkiss

[Winter Bear]

But SME is still trying to sell shares to KK aren’t they? Hindering Hybe from having the managing power they want. 

[harumaki]

What's Hybe's goal anyways..

[Crescent]

19 minutes ago, Winter Bear said:

But SME is still trying to sell shares to KK aren’t they? Hindering Hybe from having the managing power they want. 

I think so, seems like the goal is the get them to compete for LSM's shares, but hybe seems to have bigger plans

[Shalnark]

18 minutes ago, harumaki said:

What's Hybe's goal anyways..

Naver can block Kakao from having too much power in the idol industry

[sour candy]

Interesting 

[Thigh-high feminist]

Is Naevis still getting ha debut though? 

[Gaudy]

LMFAO

[Feary]

I just want Lee Soo Man gone. 

[Archer2006]

Why????? I mean they should have let Kakao buy it. That way LSM's "vision" would finally die. We all know Hybe is going to let that clown continue to run SM into the ground with his tired ideas and direction. He needs to retire and leave the company to the younger generation who understand the market and where KPOP is going. I feel so bad for SM employees who will have to suffer through his nonsense. And the fact his greedy ass set up a contract for him to get 6% in digital royalties until 2092 is despicable.  

[Jikrytae]

Keep Hybe the hell away from SM's groups. They already destroyed Gfriend. 

[STORM]

Lmaooooooooo I can only imagine how SM stans feel

[jeong jaehyuns boyfriend]

As much as I give LSM credit for his initial vision in starting the company and producing so many legendary artists, I do feel like his time has passed. Nobody lives forever. He’s getting older now and rather than hold onto all of his power and influence until the end, he should be thinking about how and who he’s going to pass the torch to after he’s gone. Let’s not forget that his greed over money and power is what led to the original “slave” contract in the Kpop industry.

Edited February 10 by jeong jaehyuns boyfriend

[Bitoku]

someone save exo

[Black Alien Oppa]

So this meand that my co-Armys will be direct superior of Exo-l and Sones?  

[Guest]

HYBE is absolutely going to ruin SM if they gain a larger share. sorry but nothing HYBE has ever done in the idol industry is good.

[Feary]

7 hours ago, Black Alien Oppa said:

So this meand that my co-Armys will be direct superior of Exo-l and Sones?  

Wow, I am only now returning to OH after years and still seeing u here feels like a blast from the past lol 

edit: even ur bit is still the same haha

Edited February 10 by Feary