Lee Soo Man And HYBE Apparently Attempting To Purchase SM Entertainment

Lee Soo Man and HYBE apparently attempting to repurchase SM Entertainment

Lee Soo Man and HYBE Labels want SM Entertainment back.

HYBE Labels and founder and former chairman Lee Soo Man may acquire SM Entertainment, rumors say. Despite their denial, Kakao may sell SME, according to rumors.

After HYBE Labels’ proposal to buy SM fell through last year, industry insiders say multiple corporations are interested in buying it. The latest rumors claim HYBE chairman Bang Si Hyuk is directly pursuing private equity groups to buy SM.

According to other sources, former SM Entertainment chairman Lee Soo Man wants to return after selling 14.8% of his stock to HYBE. Gaming business NCSOFT, fashion brand F&F, and MGM are reportedly said to want SME.

Kakao has conducted a forensic examination to remove SM Entertainment officials who allegedly fired Lee Soo Man.