K-pop giant Hybe still a winner despite unsuccessful takeover attempt of SM

SOUTH Korea’s Hybe Corporation may have lost the battle to buy over rival SM Entertainment, but it has gained some leverage that may still help it win investors seeking a slice of the K-pop action.

Hybe – the management company behind K-pop megastars BTS – now owns a large enough stake to have some influence on SM. It also walked out of the deal with a partnership for its fan platform business.

Since February, Hybe had been in a battle with South Korean Internet giant Kakao to take over SM Entertainment – a rival entertainment agency regarded as a pioneer in taking the K-pop genre to the rest of the world.