South Korea’s HYBE Takes Controlling Stake in Rival SM Entertainment

HYBE has announced it’s acquired a controlling stake in SM Entertainment, the South Korean company that was long considered a rival to the home of BTS and the third largest publicly traded K-pop label in Korea. The purchase of $334.5 million shares was reported on Friday and helps strengthen the company’s position as a leader in K-pop. The announcement comes on the heels of Wednesday’s news that HYBE America had acquired Quality Control, (QC Media Holdings, Inc.), the Atlanta-based entertainment company covering music (Lil Baby, Lil Yachty, City Girls and Migos are among its signings), sports, film and television founded… Read Full Article