HYBE Acquires Majority Shares of SM Entertainment, Opens Social Media Account ‘SMwithHYBE’
HYBE, the South Korean entertainment company known for its global success with K-pop group BTS, has made headlines once again with its recent acquisition of the majority shares of SM Entertainment. The shares were previously owned by Lee Soo Man, the founder of SM Entertainment.
In his official statement, Bang Si Hyuk, the founder of HYBE, emphasized that the acquisition was aimed at strengthening and changing the world’s music game.
He stated that the goal was to bring together the global capabilities of both companies to become a game changer in the global pop music market.
To further emphasize their commitment to this acquisition, HYBE has opened social media accounts on Twitter and YouTube under the name ‘SMwithHYBE’. It is reported that this account was created to attract the attention of SM Entertainment’s minority shareholders, as there are rumors that HYBE will acquire minority shares of the company.
In their first tweet, the account stated that HYBE would support all the activities of all its artists, employees, and shareholders.
Furthermore, the account provided a YouTube video that explains HYBE’s vision and mission for the growth and policies of SM Entertainment shareholders.
The profile picture displayed on both social media accounts features the words ‘SM With HYBE’ in the style of the BTS agency’s signature font.
Despite the excitement surrounding the acquisition, there has been backlash from some fans. In fact, a truck filled with protest messages was sent to the HYBE building. The messages read, “The SM fan union is against the HYBE monopoly and we support SM,” “HYBE please take care of your own artists. We will take care of our artists,” and “Don’t touch SM artists and don’t do anything that will bring slander against HYBE artists.”
