And what happened to LSM?
Can someone clarify? Is SM entertainment still there? Wasn't it scrapped?
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apparently that weird clown who used to hang around in the forum locked him in a dungeon
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-> Rumors said Hybe was buying SM -> Lee Sooman got crap ton of money from Hybe ->SM did not fusion with Hybe -> Lee Sooman left SM -> New CEO -> New CEO's first move was kicking Lucas out of NCT -> Lee Sooman was banned from something, I forgot what it was but he beged Hybe for getting back. I think something with music -> Lee Sooman also refused to give money back to Hybe (wasn't it 90 million$ ?)-> Lee Sooman made a new company (I think not for music) -> NCT system fucked -> There are only going to be 2 new groups added to NCT before closing the concept -> Shotaro & Sungchan got kicked out of NCT -> Popular SM trainee Shohei was announced to not debut under NCT -> Fans had been mad for weeks -> New SHINee, TVXQ & NCT stuff happend -> Many fans allready forgot what happend in January
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-> Rumors said Hybe was buying SM -> Lee Sooman got crap ton of money from Hybe ->SM did not fusion with Hybe -> Lee Sooman left SM -> New CEO -> New CEO's first move was kicking Lucas out of NCT -> Lee Sooman was banned from something, I forgot what it was but he beged Hybe for getting back. I think something with music -> Lee Sooman also refused to give money back to Hybe (wasn't it 90 million$ ?)-> Lee Sooman made a new company (I think not for music) -> NCT system fucked -> There are only going to be 2 new groups added to NCT before closing the concept -> Shotaro & Sungchan got kicked out of NCT -> Popular SM trainee Shohei was announced to not debut under NCT -> Fans had been mad for weeks -> New SHINee, TVXQ & NCT stuff happend -> Many fans allready forgot what happend in January
Who bought SM then? Kakao?
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As of 01 Aug 2023, it is unclear who bought SM Entertainment.4 Lee Soo Man, the founder of SM Entertainment, owns 18.73% of the company's stock, which is split between numerous owners. He resigned from the board of directors in 2010 to focus on overseas expansion and the development of new business and artists.0 In March 2022, Kakao confirmed that it had agreed to purchase the entirety of SM Entertainment founder Lee Soo Man's shares in the company.4 However, in October 2022, SM Entertainment terminated a contract with Lee Soo-man, a year early, at the end of 2022.13 HYBE, CJ ENM, and Kakao were all competing to acquire Lee Soo Man's stake in SM, but HYBE's offer was said to have been rejected.4 In November 2021, CJ ENM acquired 18.53 percent of shares of SM Entertainment, which belonged to Lee Soo Man.
On March 3, 2023, South Korean court issued an injunction against SM Entertainment deal with Kakao. Then on March 6, 2023, Kakao launched a tender offer bid, in which it seeks to acquire 35% of SM Entertainment's stakes, in addition to its 4.9% stake already owned in the company. On March 12, 2023, Hybe announced that they no longer planned to own the majority stakes of SM Entertainment, said that the bidding war with Kakao could "damage shareholder value". The new board of directors, which will be launched at the SM shareholders' meeting on the 31st, is expected to end such controversy. At the shareholders' meeting, a board of directors is expected to be formed with the current management and those nominated by Kakao. Lee Sung-soo and Tak Young-joon, current co-chairmen who have maintained friendly relations with Kakao, are expected to step down from their positions as directors and promote SM3.0 in the production and management fields, respectively. On March 24, 2023, Hybe announced that it will sell its entire stake in SM Entertainment to Kakao by accepting its tender offer launched by Kakao. On March 28, 2023, Kakao announced that it successfully acquired 35% stake in SM Entertainment through its tender offer bid, resulting a combined 39.87 percent stake that owned from Kakao and its subsidiary, Kakao Entertainment respectively, becoming SM's largest shareholder. Hybe instead sold half of its stakes in SM to Kakao, leaving it only for 8.81 percent.
On May 24, 2023, SM released a video titled "SM 3.0: NEW IP 2023" on their official YouTube Channel, in which the CEO Jang Chul-hyuck announced the company's plans for the year. This includes the creation of a new NCT sub-unit which will mark the end of the group's limitless concept following the addition of 2 new trainees of Japanese and Korean nationalities. Furthermore, current members of the group, Sungchan and Shotaro, will be leaving to re-debut in SM's new boy-group along with trainees who were previously revealed to join NCT. On July 31, 2023, SM announced this boygroup would be named 'RIIZE', a combination of the words rise and realize with a debut set for early September. The company also plans to debut a new girl-group in the 4th quarter of 2023.
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A SIMPLE Google search would have answered your question.
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As of 01 Aug 2023, it is unclear who bought SM Entertainment.4 Lee Soo Man, the founder of SM Entertainment, owns 18.73% of the company's stock, which is split between numerous owners. He resigned from the board of directors in 2010 to focus on overseas expansion and the development of new business and artists.0 In March 2022, Kakao confirmed that it had agreed to purchase the entirety of SM Entertainment founder Lee Soo Man's shares in the company.4 However, in October 2022, SM Entertainment terminated a contract with Lee Soo-man, a year early, at the end of 2022.13 HYBE, CJ ENM, and Kakao were all competing to acquire Lee Soo Man's stake in SM, but HYBE's offer was said to have been rejected.4 In November 2021, CJ ENM acquired 18.53 percent of shares of SM Entertainment, which belonged to Lee Soo Man.
On March 3, 2023, South Korean court issued an injunction against SM Entertainment deal with Kakao. Then on March 6, 2023, Kakao launched a tender offer bid, in which it seeks to acquire 35% of SM Entertainment's stakes, in addition to its 4.9% stake already owned in the company. On March 12, 2023, Hybe announced that they no longer planned to own the majority stakes of SM Entertainment, said that the bidding war with Kakao could "damage shareholder value". The new board of directors, which will be launched at the SM shareholders' meeting on the 31st, is expected to end such controversy. At the shareholders' meeting, a board of directors is expected to be formed with the current management and those nominated by Kakao. Lee Sung-soo and Tak Young-joon, current co-chairmen who have maintained friendly relations with Kakao, are expected to step down from their positions as directors and promote SM3.0 in the production and management fields, respectively. On March 24, 2023, Hybe announced that it will sell its entire stake in SM Entertainment to Kakao by accepting its tender offer launched by Kakao. On March 28, 2023, Kakao announced that it successfully acquired 35% stake in SM Entertainment through its tender offer bid, resulting a combined 39.87 percent stake that owned from Kakao and its subsidiary, Kakao Entertainment respectively, becoming SM's largest shareholder. Hybe instead sold half of its stakes in SM to Kakao, leaving it only for 8.81 percent.
On May 24, 2023, SM released a video titled "SM 3.0: NEW IP 2023" on their official YouTube Channel, in which the CEO Jang Chul-hyuck announced the company's plans for the year. This includes the creation of a new NCT sub-unit which will mark the end of the group's limitless concept following the addition of 2 new trainees of Japanese and Korean nationalities. Furthermore, current members of the group, Sungchan and Shotaro, will be leaving to re-debut in SM's new boy-group along with trainees who were previously revealed to join NCT. On July 31, 2023, SM announced this boygroup would be named 'RIIZE', a combination of the words rise and realize with a debut set for early September. The company also plans to debut a new girl-group in the 4th quarter of 2023.
Well that's one way to get around the link issue
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Well that's one way to get around the link issue
Google is your friend lol
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