Currently, public attention is focused on Lee Soo man's conflict with SM Entertainment which also involves Kakao to HYBE. With the position of the largest shareholder in HYBE, there were fears that the less popular group was disbanded.
From Lee Soo Man's feud with SM Entertainment to Kakao and HYBE getting into the vortex of conflict, fans' focus is on the end of this problem. The reason is, there is concern that this polemic will lead to the disbandment of the less popular group.
As is known, HYBE has acquired 14.8 percent of SM Entertainment's shares from Lee Soo Man since February 10. It doesn't stop there, the multi-label company is eyeing a 15 percent stake in SM Entertainment worth USD 900 million (around Rp. 13 trillion).
The agreement arose after a dispute between SM Entertainment's management and Lee Soo Man as the founder. While Co-CEOs Lee Sung Soo and Tak Young Jun sided with Kakao and Align Partners, Lee Soo Man embraced HYBE. Accordingly, more and more attention is being drawn to the agency's internal feud.
With the announcement that HYBE is becoming the largest shareholder, there have been various discussions about the upcoming changes at SM Entertainment. One of the chats is most likely about SM's shrinking ties with China.
In addition, there were also concerns that HYBE would end up disbanding the SM Entertainment group. Groups that are threatened with disbanding can be those that are less popular or only make a small profit.
"I guess when HYBE gets 40 percent as planned, they will start getting rid of all the useless people," said one netizen. "But which groups are less popular in SM?" said another netizen. "There must be a group at SM that isn't profitable," added another.
"Why do people keep talking about this?" commented by a netizen. "I don't think HYBE will have the power to disperse people like that," continued another netizen. "I don't think they will disband, but worry when their contracts end," said another.
Meanwhile, based on the details of the HYBE conference, it was stated that it would not interfere in managing the SM Entertainment group. This is what is always applied to their sub-labels such as BigHit Music, Pledis Entertainment, Source Music, to ADOR. (wk/inta)
