Explainer-How Kakao won a takeover battle against HYBE for K-pop pioneer SM Entertainment
South Korean K-pop pioneer SM Entertainment Co Ltd is poised to fall under the grip of social media giant Kakao Corp after HYBE Co Ltd, the agency representing boy band BTS, on Sunday dropped a bid to take control. SM, founded in 1995 by South Korean folk song singer Lee Soo-man with just 50…
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