Stayc's company has been acquired by Kakao M

Quote from omnimorphism

I don't get what's in debate here, but High Up is now in the same boat as EDAM Entertainment. Kakao Entertainment holds 40% of the shares of both companies.

I just told him that EDAM is established by Kakao itself to specifically managed IU, not by buying a company like the High Up situation.

I hope StayC don't suffers like GFriend after HYBE overtook SM in it's portfolio.

I just learned of this today. I’m kind of disappointed: unless High Up somehow regains independence with the 60% of shares not held by Kakao, it’ll never have the chance to be a Hybe-like entity (independent, grows organically, etc.). It’s kind of an aesthetic matter for me: being just a part of Kakao erases the potential for an “up from nothing” story. Oh well.