Kakao to acquire SM after HYBE decides to "walk away" + new fears surface

Article: HYBE no longer acquiring SM...to cooperate after handing over management rights to Kakao

Source: Chosun Ilbo

The 'HYBE-Kakao' war for SM Entertainment has come to an end.

On the 12th, both HYBE and Kakao issued statements announcing "they would end the battle to acquire SM." HYBE was the first to issue a statement and stated "they halted purchasing shares and consulted with Kakao to cooperate on an IT platform deal instead of fighting over management rights."

Kakao also stated "they agreed to continue various cooperative relationships to enhance the global status of K-culture, including K-pop and become partners who exchange positive effects with HYBE and SM." 

It looks like the cock-fight to acquire SM that has been ongoing for the past month has come to an end.

Kakao plans to spend about 1.2 trillion won to purchase a 35% stake in SM by the 26th. If HYBE no longer participates in the battle to secure shares, the major shareholders are likely to be Kakao. Instead, HYBE will utilize SM's IP by providing contents and services related to SM K-pop idols through WeVerse, an IT platform where idols like BTS are active.

Kakao has decided to guarantee SM autonomous and independent management and support their global growth. Kakao stated, "We plan to create a new synergy by combining SM's global IP and production system and Kakao's IT technology, and IP value chain business capabilities to go beyond music IP expansion. Through this, we will strengthen the global competitiveness of each company and actively strive to make K-Culture industry a national competitive factor."

1. [+731, -36] I seriously hate Kakao f*ck.. the only solution is to hope for a Kakao demise now..
2. [+357, -23] Now even SM has become a Zha Cao company pumped full of Chinese money
3. [+284, -6] This is all part of the plan. Kakao is backed by huge Chinese investments. There's a reason why the previous administration left them alone so that they can expand their tentacles like an octopus beyond a simple conglomerate into every industry.
4. [+205, -9] Kakao is seriously eating everything up. I hate this so much. SM is definitely going to flop now.
5. [+121, -7] I knew it. This smells of a stock price manipulation. They really worked hard setting up a family fight to avoid suspicionsㅋㅋ. This is how they've always made money, being a thug is in their blood.
6. [+61, -1] Chinese kids are going to be rushing into SM now and start claiming K-pop is their culture ㅋㅋㅋㅋ. I hope Kakao goes under.
7. [+30, -0] The Financial Supervisory Services needs to open investigations into Kakao and disband this thug group built from Chinese money. 
8. [+25, -0] What kind of devil is Kakao indebted to that they're able to expand their octopus tentacles to this level? If Samsung were to start running a Samsung Call Taxi business, Samsung Bank and now an entertainment company people would be raising pitchforks.. why is no one raising a hair to their conglomerate monopoly in our country??!
9. [+14, -0] We're losing our country to Kakao who are rapidly growing their tentacles everywhere on the backs of Moon Jae-in's Chinese dream. China's Tencent has a 20% stake there too.
10. [+13, -2] Investigate Kakao and Kim Bum-soo.. their corruptions have gone too far now.
11. [+12, -1] SM is going to be full on Chinese idols soon ㅋㅋ
12. [+10, -0] SM artists need to start terminating contracts and transfer to HYBE, etc. 
13. [+8, -3] SM's f*cking strange with their logic too.. so Kakao is a better fit but HYBE isn't?? Whether they're acquired by Kakao or HYBE, SM as we know it is over!