Hybe Entertainment, the home of K-pop’s #1 group, BTS, has come out with a bold plan to take control over former market leader SM Entertainment. Without the dust even settling, ‘SM with Hybe’ outlined a path for the two powerhouses to join forces to compete on the global music market. Though the two companies would remain separate, it would be a de facto Hybe SM merger in a stock deal that could total close to $1 billion dollars.
After being relatively quiet during the attempted coup d’etat by a partnership between SM Entertainment and Kakao Entertainment, Hybe Chairman Bang Si-hyuk and Hybe leaders have also made the rounds with major media outlets and created a YouTube channel of their own to appeal to shareholders and fans. The final showdown is the March 31, 2023 SM Entertainment shareholder meeting. But is an unexpected twist to this real life K-drama yet to come?