Bang Si Hyuk Says It Was Not His ‘Personal Vision to Acquire SM Entertainment’ but Needed to Think About Things from a Perspective of the Company
After HYBE and SM Entertainment's long drawn battle out over management and shares, it was concluded that HYBE would try to create a partnership with SM in business platforms instead. HYBE and Kakao also agreed to "cooperate on platform-related matters" in the future.
Bang Si Hyuk got candid about what went down between HYBE and SM Entertainment and mentioned that it was not his personal goal to acquire the agency. He further mentioned that HYBE made two offers which were rejected both times. Lee Soo Man, the founder of SM then contacted Si Hyuk and asked him about his thoughts on acquiring stocks, which he then agreed to since he thought it was alright at the time. What they did not expect after was the overheated and competitive battle for acquisition that was creating significant damage. HYBE Discontinues Acquisition Process of SM Entertainment After Coming to Agreement with Kakao.
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