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Business Times
3 days ago
- Business
- Business Times
Tencent Music buys SM Entertainment stake in K-pop bet
[SEOUL] A Tencent Holdings subsidiary is snapping up a nearly 10 per cent stake in SM Entertainment valued at about US$180 million, marking a rare Chinese investment into a South Korean company in recent years. Tencent Music Entertainment Group, which is controlled by Tencent, will buy the stake from BTS agency Hybe, which is selling its remaining 2.2 million shares in SM Entertainment at 110,000 won each, a 15.3 per cent discount to Tuesday's (May 27) close, according to a regulatory filing. The move comes as China is widely expected to lift its nearly decade-old unofficial ban on K-pop performances in mainland China. That potentially opens South Korean companies such as SM Entertainment to resume music distribution through the relationship with Tencent. Before the restrictions, China was among the fast-growing markets for K-pop. China imposed the so-called 'K-wave ban' in 2016 in retaliation for South Korea allowing the US military to deploy missile defence system called Thaad, or Terminal High-Altitude Area Defense, on its soil. Tencent, China's gaming and social media leader, was not available for an immediate comment. A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up For Tencent, the deal would mark its first major investment in South Korea's music industry in years. It owns a 4.3 per cent stake in YG Entertainment and a 5.95 per cent holding in Kakao, South Korea's biggest Internet company which is also the largest shareholder of SM Entertainment. The selldown will bring an end to the bitter battle for the control of SM Entertainment. Hybe and Kakao sought to buy SM Entertainment in 2023, in what would have been one of the country's biggest media sector deals. But Hybe dropped its pursuit of SM after the bidding war pushed up the SM stock price, making it too expensive. The deal also resulted in Kakao founder Brian Kim getting caught up in the regulatory crosshairs, over charges that he allegedly tried to manipulate the SM Entertainment shares. Kim has repeatedly denied any wrongdoing. South Korean entertainment stocks have been among the biggest gainers in the Korean equity market this year, driven by expectations they will be shielded from tariff wars. The rally is also underpinned by expectations of China lifting its K-pop ban. SM Entertainment shares have rallied 72 per cent so far this year while YG Entertainment jumped 77 per cent. Hybe said in a statement it divested non-core assets and the proceeds will be used to fund future growth. BLOOMBERG
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
Tencent increases Korea music exposure ahead of China K-Pop move
TENCENT Holdings Ltd. is snapping up a nearly 10% stake in SM Entertainment Co. Ltd valued at about $180 million, marking a rare Chinese investment into a South Korean company in recent years. Tencent will buy the stake from BTS-agency Hybe Co Ltd., which is selling its remaining 2.2 million shares in SM Entertainment at 110,000 won each, a 15.3% discount to Tuesday's close, according to a regulatory filing. The move comes as China is widely expected to lift its nearly decade old unofficial ban on K-pop performances in mainland China. That potentially opens South Korean companies such as SM Entertainment to resume music distribution through the relationship with Tencent. Before the restrictions, China was among the fast growing markets for K-pop. China imposed the so-called 'K-wave ban' in 2016 in retaliation for South Korea allowing the US military to deploy missile defence system called Thaad, or Terminal High-Altitude Area Defense, in its soil. Tencent, China's gaming and social media leader, was not available for an immediate comment. For Tencent, the deal would mark its first major investment in South Korea's music industry in years. It owns a 4.3% stake in YG Entertainment Inc. and a 5.95% holding in Kakao Corp., South Korea's biggest Internet company which is also the largest shareholder of SM Entertainment. The selldown will bring an end to the bitter battle for the control of SM Entertainment. Hybe and Kakao Corp sought to buy SM Entertainment in 2023, in what would have been one of the country's biggest media sector deals. But Hybe dropped its pursuit of SM after the bidding war pushed up the SM stock price and making it too expensive. The deal also resulted in Kakao founder Brian Kim getting caught up in the regulatory cross hairs, over charges that he allegedly tried to manipulate the SM Entertainment shares. Kim has repeatedly denied any wrongdoing. South Korean entertainment stocks have been among the biggest gainers in the Korean equity market this year, driven by expectations they will be shielded from tariff wars. The rally is also underpinned by expectations of China lifting its K-pop ban. SM Entertainment shares have rallied 72% so far this year while YG Entertainment Inc. jumped 77%. Hybe said in a statement it divested non-core assets and the proceeds will be used to fund future growth. –BLOOMBERG
Business Wire
06-05-2025
- Health
- Business Wire
Mission Bio and Integrated DNA Technologies Partner to Advance Single-Cell Precision in CRISPR Genome Editing Analysis
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Mission Bio, a pioneer in single-cell multi-omics solutions, has partnered with Integrated DNA Technologies (IDT), a global leader in genomics solutions, to introduce an advanced workflow for precise on- and off-target confirmation in gene editing applications. This collaboration integrates IDT's award-winning rhAmpSeq™ technology with Mission Bio's Tapestri ® Platform to provide a comprehensive, high-resolution approach for assessing genome editing outcomes at the single-cell level. Genome editing is crucial for the development of the next wave of cell and gene therapies, enabling precise and multiple genetic modifications. However, ensuring the specificity and efficiency of these edits remains a critical challenge, particularly in cell and gene therapy (CGT) applications. Traditional bulk sequencing methods provide valuable insights into genome editing efficiency, but lack the resolution to capture single-cell heterogeneity, zygosity, and co-occurrence of edits within individual cells. To address these challenges, Mission Bio and IDT have developed an integrated workflow combining IDT's rhAmpSeq amplicon-based targeted resequencing chemistry with Mission Bio's droplet-based single-cell DNA sequencing technology. This novel solution builds on published approaches that researchers have previously used to leverage the platforms. The new, integrated approach enhances the efficiency for obtaining both on-target efficacy assessment and off-target detection in a single-cell context, offering researchers an unprecedented level of accuracy and confidence in genome editing analysis. In a proof-of-concept study, to be presented at the upcoming American Society of Gene & Cell Therapy (ASGCT) Annual Meeting, the integrated workflow was interrogated using well-characterized cell lines and selected for their extensive orthogonal bulk sequencing data. By targeting loci with known indel variations ranging from single-base pair changes to large insertions and deletions (>2,000 bp), the study demonstrated the robustness of rhAmpSeq chemistry in single-cell applications. The resulting targeted panel proved compatible with both bulk and single-cell assays, ensuring seamless adoption across various research needs. 'Our single-cell multi-omics has been used in combination with bulk sequencing to add specificity that otherwise would not be possible,' said Brian Kim, CEO of Mission Bio. 'By integrating our capabilities with IDT's trusted approach to bulk sequencing, we're adding together multiple layers of genetic insights in a single drop.' The Tapestri Platform's automated single-cell genome editing analytics pipeline provided a quantitative assessment of editing efficiency, off-target editing levels and zygosity, offering a critical layer of data resolution beyond bulk sequencing. By integrating rhAmpSeq's advanced primer design with Mission Bio's single-cell DNA resequencing technology, the new workflow establishes a cost-effective, scalable, and highly customizable solution for genome editing validation in CGT applications. 'Safety is key to unlocking the true promise of CRISPR, and this collaboration with Mission Bio reflects another step forward to advancing the delivery of safer and more efficient genome editing platforms,' said Sandy Ottensmann, VP/GM, Gene Writing and Editing at IDT. 'By pairing the precision of rhAmpSeq with the single-cell resolution of Tapestri, we aim to support cell and gene therapy developers in driving the future of safe, life-changing therapies to benefit more patients.' Researchers and industry professionals can learn more about this cutting-edge approach at the upcoming American Society of Gene & Cell Therapy (ASGCT) Annual Meeting this month. Mission Bio and IDT will be presenting a poster detailing the study's findings, demonstrating the power of integrated single-cell sequencing for genome editing validation. The poster 'Comprehensive On- and Off-target Validation Using Integrated rhAmpSeq and Targeted DNA Resequencing Single-Cell Technology for Gene Editing Applications' will be presented on Thursday, May 15 at 5:30 pm CST. An oral presentation delivered by Dr. Ayal Hendel of Bar-Ilan University, 'Single-Cell Profiling of Genome-Editing Alterations and Functional Outcomes in CRISPR-Engineered Cells,' will take place on Saturday, May 17 at 9:00 am CST. Visit Mission Bio's Booth #1749 at ASGCT to see how this technology can accelerate your research. For more information, visit or contact missionbio@ About Mission Bio Mission Bio is a leading life science company, specializing in the advancement of single-cell DNA and multiomics analysis. The company's Tapestri Platform is unique in its capabilities, offering an unparalleled level of granularity and precision that is critical for complex research areas such as cancer studies, pharmaceutical development, and advanced cell and gene therapies. Unlike traditional methods such as bulk sequencing, Tapestri provides a level of precision that opens the door for more tailored and effective treatment strategies. Researchers globally depend on Tapestri to identify rare cell populations, understand mechanisms of therapeutic resistance and response, and establish key quality metrics for next-generation medical treatments. Founded in 2014, Mission Bio has secured investment from firms including Mayfield Fund, Novo Growth, Cota Capital, and Agilent Technologies. With the Tapestri Platform, Mission Bio is setting the standard in the field, contributing significantly to the progress of personalized medicine and targeted therapies. To learn more about Mission Bio and the Tapestri Platform, please visit Disclaimer: For research use only. Not for use in diagnostic procedures. Unless otherwise agreed to in writing, IDT does not intend these products to be used in clinical applications and does not warrant their fitness or suitability for any clinical diagnostic use. Purchaser is solely responsible for all decisions regarding the use of these products and any associated regulatory or legal obligations.
Yahoo
06-02-2025
- Business
- Yahoo
Ares Management Serves as Administrative and Collateral Agent for Over $1 Billion in New Financing to Support the Recapitalization of GHX
NEW YORK, February 06, 2025--(BUSINESS WIRE)--Ares Management Corporation (NYSE: ARES) ("Ares") announced today that an Ares Credit fund served as the administrative and collateral agent on a financing package to support the recapitalization of Global Healthcare Exchange, LLC ("GHX"). Founded in 2000, GHX is the leading provider of mission critical supply chain software automation solutions in the healthcare industry, facilitating accurate and timely connectivity between suppliers, providers, and distributors. GHX serves the majority of healthcare manufacturers, distributors and GPOs alongside hospitals representing a high percentage of total U.S. hospital beds. The strategic financing will enable GHX to strengthen its capital structure and have the flexibility to achieve its long-term strategic objectives. "Since first providing financing to GHX in 2014, we have seen the progression of GHX's compelling solutions offering, blue chip customer base and track-record of performance all while maintaining its focus on a healthy balance sheet," said Brian Kim, Partner in the Ares Credit Group. "We are pleased to continue building on our relationship with the GHX team through this latest investment, which we believe will help the company to further reinforce its differentiated position as they capitalize on long-term growth opportunities." "We appreciate Ares' continued confidence in GHX's vision," said Tina Vatanka Murphy, President and CEO of GHX. "This strategic financing strengthens our ability to invest in innovation and further support healthcare organizations in improving operational efficiency and patient outcomes. With this support, GHX is well positioned to continue executing on its growth strategy while delivering the solutions our customers rely on to navigate an evolving healthcare landscape." GHX is a portfolio company of Temasek, an investment company based in Singapore. Warburg Pincus is also a significant minority owner of GHX. About Ares Management Corporation Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2024, Ares Management Corporation's global platform had over $484 billion of assets under management, with operations across North America, Europe, Asia Pacific and the Middle East. For more information, please visit About GHX Building on decades of collaboration among providers, manufacturers, distributors and other industry stakeholders, Global Healthcare Exchange, LLC (GHX) is leading the charge in helping organizations run the new business of healthcare. By automating key business processes and translating evidence-based analytics and data into meaningful action, GHX is helping the healthcare ecosystem to move faster, operate more intelligently and achieve greater outcomes. With the support of GHX, healthcare organizations have removed billions of dollars of wasteful healthcare spend. For more information on GHX's suite of cloud-based supply chain solutions, visit and The Healthcare Hub. View source version on Contacts Jacob Silber, +1-212-301-0376media@
