Latest news with #LeeSooMan
Malay Mail
2 days ago
- Business
- Malay Mail
Hybe sells entire SM Entertainment stake in RM618m deal, making China's Tencent second-largest shareholder
SEOUL, May 28 — K-pop agency HYBE will sell its entire 9.38 per cent stake in SM Entertainment to China's Tencent for 200 billion won (RM618 million). In a regulatory filing yesterday, HYBE said it will offload 2,212,237 shares at 110,000 won each. That price is lower than SM Entertainment's closing share price of 129,900 won on the Korea Exchange the same day, Korea JoongAng Daily reported. 'We divested noncore assets as part of a choice and concentration strategy,' HYBE said in the filing. 'Secured funds will be used to secure future growth engines,' it added. The block trade is scheduled for completion after the market closes on Friday. HYBE acquired the stake in 2023 during a high-profile battle to gain management control of SM Entertainment. It initially bought 14.8 per cent of SM Entertainment from founder Lee Soo-man, before selling 8.62 per cent to Kakao in March 2023 and another 3 per cent later that year. Tencent will become SM Entertainment's second largest shareholder after the deal, following Kakao and Kakao Entertainment, which hold a combined 41.5 per cent stake. 'We will strengthen our partnership with Tencent Music Entertainment,' SM Entertainment said. SM Entertainment manages major K-pop acts including NCT, aespa and WayV, a group focused on the China market.
Yahoo
3 days ago
- Business
- Yahoo
HYBE Sells Remaining Stake in K-Pop Rival SM Entertainment for $177 Million
HYBE has sold its remaining 9.38% stake in rival SM Entertainment to Tencent Music Entertainment for approximately $177 million, the company revealed in regulatory filing. The SM agency is home to such groups as EXO, Aespa (pictured above) and NCT 127; Tencent Music is a subsidiary of Chinese tech giant Tencent. The deal will see 2.21 million shares transferred at 110,000 Korean won per share and is set to close on May 30, according to the filing. HYBE initially acquired a 14.8% stake in SM from founder Lee Soo Man, and later upped its holding to 15.78% through an unsuccessful takeover bid, being topped by Kakao and its subsidiary Kakao Entertainment, which now holds slightly over 40%. Tencent is now the second-largest shareholder in SM. More from Variety HYBE Latin Launches 'Medellín Music Lab' in Colombia: 'Ready to Make History' (EXCLUSIVE) K-Pop Group NewJeans to Continue Label Battle Despite Fresh Court Setback Alan Chikin Chow Launches Casting Call for Co-Ed Pop Group He's Forming With HYBE America That Will Be Featured in a Scripted Series on YouTube (EXCLUSIVE) According to South Korea's Yonhap news agency, cited in Music Business Worldwide, HYBE stated that I has 'divested non-core assets as part of a choice and concentration strategy,' adding that the 'Secured funds will be used to secure future growth engines.' It noted that SM says that the company plans to 'work more closely with Tencent Music' following the share sale. MBW notes that China-based Tencent Music's investment in SM, a South Korean music company, coincides with reports that China will be lifting its ban on South Korean cultural and entertainment content imports. That ban was imposed by China in 2017 in response to the deployment of a U.S. missile system in South Korea. With a population of more than 1.4 billion people, China would seem ripe for Korean entertainment. Tencent Holdings also owns stakes in other K-pop operations, including Kakoa (a 4.61% stake) labels and YG Entertainment. Best of Variety New Movies Out Now in Theaters: What to See This Week Emmy Predictions: Talk/Scripted Variety Series - The Variety Categories Are Still a Mess; Netflix, Dropout, and 'Hot Ones' Stir Up Buzz Oscars Predictions 2026: 'Sinners' Becomes Early Contender Ahead of Cannes Film Festival
Pink Villa
3 days ago
- Business
- Pink Villa
HYBE decides to sell 243 billion KRW stake in SM Entertainment to THIS Chinese company
In a surprising twist that's sending waves through the K-pop world, HYBE, the powerhouse behind BTS, SEVENTEEN, and more, has decided to sell all of its shares in SM Entertainment, home to groups like EXO, NCT, Red Velvet, and aespa. And who's buying? None other than Tencent Music, a major Chinese entertainment player, is marking a big shift in who holds power in K-pop's business side. On May 27, according to a filing with the Financial Supervisory Service, HYBE's deal is valued at around 243 billion KRW (roughly USD 178 million), involving 2.2 million shares, which represents 9.66 per cent of SM's total stock. The shares will be sold at 110,000 KRW each, which is about 15 per cent lower than SM's current market price. After the transaction is completed on May 30 through a block deal after market close, Tencent will become SM's second-largest shareholder, right after Kakao. HYBE Owned Part of SM? Yes. In early 2023, HYBE jumped into the battle to gain control of SM Entertainment. HYBE had acquired a 14.8 per cent stake from SM's founder, Lee Soo Man, during a fierce fight with Kakao over SM's future. But after some back-and-forth, Kakao won the battle for control. HYBE backed off and began offloading its shares, first selling part to Kakao and now selling the rest to Tencent. Why Is HYBE Selling Shares Now? HYBE reveals this is part of 'reorganizing non-core assets,' meaning SM is no longer part of its long-term strategy. Instead, HYBE wants to focus on future growth, possibly new talent, technology, or global expansion, especially with BTS members currently on military hiatus. The timing of the sale also makes sense. SM Entertainment's stock has been going up, rising by about 20 per cent in the past month. Why? People are getting hopeful that China might start allowing more Korean entertainment again, like K-pop concerts and dramas. So for HYBE, this was a good moment to sell, while the stock price was still high and before things could change again. What Does This Mean for K-pop? This move shakes up the power balance in K-pop. For HYBE, it's a clean break from SM — a former rival in the same market. Now, HYBE can fully focus on its artists, platforms like Weverse, and global plans, especially with the return of BTS on the horizon starting in 2025.
Yahoo
16-05-2025
- Entertainment
- Yahoo
New On Amazon Prime Video May 2025, Plus What's Coming Next
Prime Video releases original new movies and shows like Another Simple Favor andOctopus! for free streaming this May. Other noteworthy titles to look out for this month include additional Prime Video originals like David Spade: Dandelion, Lee Soo Man: King of K-Pop, and The Better Sister. If you're trying to decide what to watch right now, turn to the best and newest Prime Video titles streaming this month. Throughout each month, Prime Video adds a list of new movies and specials that's comprised of original programming, old classics, and theatrical titles. Out of a lineup full of films both new and old, this new Prime Video Original movie sticks out above the rest. Here is the top title coming to Prime Video this May: This sequel to the 2018 dark comedy mystery film A Simple Favor sees Stephanie Smothers (Anna Kendrick) now as a successful author who reunites with charismatic con artist Emily Nelson (Blake Lively) for the latter's extravagant wedding to a wealthy Italian businessman on the island of Capri. However, wherever Emily goes, trouble is still sure to follow, as murder, mayhem, and betrayal turn a dream wedding into a twist-filled nightmare. Witness it all in Another Simple Favor as soon as it premieres at the beginning of May, only on Prime Video. The lineup of new shows on Prime Video this May features premieres of shows new and old. However, these two new Prime Video Original titles stand out. Check out our May highlights for Prime Video: Phoebe Waller-Bridge narrates this Prime Video Original docuseries that promises a wild, unpredictable, and truly entertaining ride as it follows the life cycle of the Giant Pacific Octopus, featuring scientists, explorers, and other individuals who have professional and personal connections to the creature. Enter tales of murder, competitive quilting, getting lost in Mexico, and Tracy Morgan, and you've got yourselves the memorable must-see viewing experience that is Octopus! on Prime Video this month. Over the course of four engrossing episodes, this Prime Video Original docuseries delves into the life and career of NASCAR legend Dale Earnhardt Sr. as he ascended from a humble working-class background to worldwide fame and fortune. Earnhardt utilizes exclusive archive footage, old race clips, and candid interviews with the late driver's friends, family, and greatest rivals to paint a compelling and comprehensive picture of the racing career and complicated family dynamics of an American icon gone too soon. Wondering what else you'll be able to watch on Prime Video this month? Here's the full list of new Prime Video movies and shows streaming in May 2025: Agent Cody Banks (2003) Agent Cody Banks 2: Destination London (2004) All Quiet On The Western Front (1930) All The Money In The World (2017) Animal House (1978) Another Simple Favor (2025) *Prime Video Original Movie Are We There Yet? (2005) Babe (1995) Babe: Pig in the City (1998) Barbershop (2002) Barbershop 2: Back in Business (2004) Because I Said So (2007) Blood Diamond (2006) Body of Lies (2008) Boo! A Madea Halloween (2016) Born On The Fourth Of July (1989) Cinderella Man (2005) Coogan's Bluff (1968) Dante's Peak (1997) Death Wish (2018) Dragon: The Bruce Lee Story (1993) Earthquake (1974) Fried Green Tomatoes (1992) Fury (2014) Gattaca (1997) Get On Up (2014) Her (2014) Heroes (1977) How High (2001) In The Heat of the Night (1967) It's Kind of a Funny Story (2010) Jarhead (2005) Jersey Boys (2014) John Q (2002) Legally Blonde (2001) Loving (2016) Mallrats (1995) Overboard (1987) Play Misty For Me (1971) R.I.P.D. – Rest in Peace Department (2013) Ray (2004) Ride Along With Gag Reel (2014) Space Cowboys (2000) Starsky & Hutch (2004) The Beguiled (1971) The Exorcist (1973) The Flintstones (1994) The Flintstones in Viva Rock Vegas (2000) The Hobbit: An Unexpected Journey (2012) The Hobbit: The Battle of the Five Armies (2014) The Hobbit: The Desolation of Smaug (2013) The Karate Kid (2010) The Lord of the Rings: The Fellowship of the Ring (2001) The Lord of the Rings: The Return of the King (2003) The Lord of the Rings: The Two Towers (2002) Traffic (2001) Two Mules for Sister Sara2 (1970) White House Down (2013) You've Got Mail (1998) NWSL on Prime Video *Prime Video Live Sports The Peanut Butter Falcon (2019) David Spade: Dandelion (2025) *Prime Video Original Comedy Special Ruby Gillman, Teenage Kraken (2023) Octopus! (2025) *Prime Video Original Series Molly-Mae: Behind it All: Part 2 (2025) *Prime Video Original Series NWSL on Prime Video *Prime Video Live Sports Lee Soo Man: King of K-Pop (2025) *Prime Video Original Movie NWSL on Prime Video *Prime Video Live Sports Motorheads (2025) *Prime Video Original Series Earnhardt (2025) *Prime Video Original Series WNBA (2025) *Prime Video Live Sports Clarkson's Farm: S4 (2025) *Prime Video Original Series NWSL on Prime Video *Prime Video Live Sports September 5 (2024) The Fire Inside (2024) The Second Best Hospital in The Galaxy: S2 (2025) *Prime Video Original Series The Better Sister (2025) *Prime Video Original Series WNBA (2025) *Prime Video Live Sports Chomp Squad: S1 (2018) Good Boy (2025) *Prime Video Original Series Still wondering what Prime Video content is on the horizon? Here is one exciting title to look forward to watching on Prime Video next month: One of the top titles premiering on Prime Video next month is Deep Cover, a Netflix Original action comedy that is sure to bring the heat (and plenty of laughs) just in time for summer. The film follows an improv comedy teacher named Kat (Bryce Dallas Howard) who gets offered what she feels is a second chance at success when an undercover cop (Sean Bean) offers her the opportunity to put her skills to the test going undercover. Together with two of her students (Orlando Bloom and Nick Mohammed), Kat and co. try to 'yes, and' their way into a gang in London's criminal underworld to take down some dangerous criminals… What could go wrong? See for yourself in Deep Cover on Prime Video in June. Prime Video's new releases are just a portion of the new movies and shows you can watch this month if you've got more than one streaming service subscription. We update our guides to the new releases on the most popular streaming platforms every month, so you can stay on top of the freshest titles to watch. Here are full lists, schedules, and reviews for everything streaming: New on Netflix this month New on Hulu this month New on Disney+ this month New on HBO Max this month New on Starz this month New on BritBox this month New on Acorn TV this month New on Tubi this month New on Paramount+ this month New on Peacock this month
Forbes
16-05-2025
- Entertainment
- Forbes
'Lee Soo Man: King Of K-Pop' Documentary Premiere In Hollywood: Recap
(L-R): Taemin of SHINee; Kat and Chenyu of A2O MAY; Lee Soo-man; Sunny, Tiffany and Hyoyeon of ... More Girls' Generation; Shijie, Quchang and Miche of A2O MAY; Choi Siwon of Super Junior at the premiere of 'Lee Soo Man: King of K-Pop' in Hollywood On May 12th hundreds of attendees gathered at NeueHouse Hollywood in Los Angeles for the red carpet premiere of Lee Soo Man: King of K-Pop, a new Amazon Prime Video documentary exploring the life and legacy of Lee Soo-man, one of K-pop's leading pioneers. Hosted by A2O Entertainment, a new record label and entertainment agency founded by Lee, the star-studded event drew a crowd of notable artists, actors, influencers and other professionals across media and entertainment, including Lee himself and K-pop idols Choi Siwon of Super Junior, Taemin of SHINee and Sunny, Hyoyeon and Tiffany of Girls' Generation. HOLLYWOOD, CALIFORNIA - MAY 12: (L-R) Choi Siwon of Super Junior and Taemin of SHINee attend the ... More afterparty for the premiere of Prime Video's "Lee Soo Man: The King of K-Pop" at NeueHouse Hollywood on May 12, 2025 in Hollywood, California. (Photo by Amy Sussman/GA/The Hollywood Reporter via Getty Images) (L-R) Girls' Generation - Sunny, Tiffany and Hyoyeon arrive at the Prime Video's LEE SOO MAN: THE ... More KING OF K-POP Premiere held at NeueHouse Hollywood in Hollywood, CA on Monday, May 12, 2025. (Photo By Sthanlee B. Mirador/Sipa USA) The film's director Ting Poo as well as its producers Teddy Zee, Jenny Turner, R.J. Cutler, Jane Cha Cutler, Elise Pearlstein and Trevor Smith were also in attendance. Prime Video's LEE SOO MAN: THE KING OF K-POP Premiere After Party held at NeueHouse Hollywood in ... More Hollywood, CA on Monday, May 12, 2025. (L-R: Jenny Turner, Elise Pearlstein, Ting Poo, Jane Cha, R.J. Cutler and Trevor Smith) HOLLYWOOD, CALIFORNIA - MAY 12: (L-R) Teddy Zee and Lee Soo Man attend the after party for the ... More premiere of Prime Video's "Lee Soo Man: The King of K-Pop" at NeueHouse Hollywood on May 12, 2025 in Hollywood, California. (Photo by Amy Sussman/GA/The Hollywood Reporter via Getty Images) The evening kicked off with red carpet arrivals, followed by an advance screening of the feature documentary. Dwayne Abernathy aka Dem Jointz arrives at Prime Video's LEE SOO MAN: THE KING OF K-POP Premiere ... More held at NeueHouse Hollywood in Hollywood, CA on Monday, May 12, 2025. (Photo By Sthanlee B. Mirador/Sipa USA) Noah Gopen, Miranda Inzunza and Gingerbread at Prime Video's LEE SOO MAN: THE KING OF K-POP ... More Premiere held at NeueHouse Hollywood in Hollywood, CA on Monday, May 12, 2025. (Photo By Sthanlee B. Mirador/Sipa USA) (L-R) Matt William Knowles and Chikako Fukuyama at Prime Video's LEE SOO MAN: THE KING OF K-POP ... More Premiere held at NeueHouse Hollywood in Hollywood, CA on Monday, May 12, 2025. (Photo By Sthanlee B. Mirador/Sipa USA) Mad Tsai arrives at Prime Video's LEE SOO MAN: THE KING OF K-POP Premiere held at NeueHouse ... More Hollywood in Hollywood, CA on Monday, May 12, 2025. (Photo By Sthanlee B. Mirador/Sipa USA) (L-R) The Stereotypes - Jonathan Yip and Ray Romulus at Prime Video's LEE SOO MAN: THE KING OF K-POP ... More Premiere held at NeueHouse Hollywood in Hollywood, CA on Monday, May 12, 2025. (Photo By Sthanlee B. Mirador/Sipa USA) (L-R) IL Yeon Kwon and Teddy Zee at Prime Video's LEE SOO MAN: THE KING OF K-POP Premiere held at ... More NeueHouse Hollywood in Hollywood, CA on Monday, May 12, 2025. (Photo By Sthanlee B. Mirador/Sipa USA) Lee Soo Man at Prime Video's LEE SOO MAN: THE KING OF K-POP Premiere held at NeueHouse Hollywood in ... More Hollywood, CA on Monday, May 12, 2025. (Photo By Sthanlee B. Mirador/Sipa USA) A2O MAY, a new five-member girl group launched by A2O Entertainment, then took to the stage to perform their debut hit 'Under My Skin' (a remake of TVXQ!'s 'Mirotic' and Sarah Connor's 'Under My Skin') and their high-octane new single 'BOSS.' A2O MAY performing at Prime Video's LEE SOO MAN: THE KING OF K-POP Premiere held at NeueHouse ... More Hollywood in Hollywood, CA on Monday, May 12, 2025. Despite debuting only five months ago, A2O MAY has already set new records, becoming the first girl group from China to perform at a major American music festival (they recently played iHeartRadio's Wango Tango) and the first Chinese idol girl group to break into the U.S. Top 40 Radio chart with 'Under My Skin." HOLLYWOOD, CALIFORNIA - MAY 12: (L-R) Kat, Chenyu, Shijie, Quchang and Miche of A2O MAY attend the ... More premiere of Prime Video's "Lee Soo Man: The King of K-Pop" at NeueHouse Hollywood on May 12, 2025 in Hollywood, California. Other young rookie acts from A2O Entertainment also showcased their talent on stage, stunning the audience with their explosive dance moves and an easy swagger well beyond their years. (L-R) A2O Entertainment Rookies - Tai, Hanze Jiayi, Ayden, Maxitong, Baowei and Xili at the Prime ... More Video's LEE SOO MAN: THE KING OF K-POP Premiere held at NeueHouse Hollywood in Hollywood, CA on Monday, May 12, 2025. (Photo By Sthanlee B. Mirador/Sipa USA) The night wrapped up with a lively rooftop afterparty, complete with an open bar, photo opps and a DJ set by Hyoyeon. (L-R) Hyoyeon of Girls' Generation and Lee Soo Man djing at Prime Video's LEE SOO MAN: THE KING OF ... More K-POP Premiere After Party held at NeueHouse Hollywood in Hollywood, CA on Monday, May 12, 2025. Prime Video's LEE SOO MAN: THE KING OF K-POP Premiere After Party held at NeueHouse Hollywood in ... More Hollywood, CA on Monday, May 12, 2025. (Photo By Sthanlee B. Mirador/Sipa USA) Prime Video's LEE SOO MAN: THE KING OF K-POP Premiere After Party held at NeueHouse Hollywood in ... More Hollywood, CA on Monday, May 12, 2025. (Photo By Sthanlee B. Mirador/Sipa USA) Guests at Prime Video's LEE SOO MAN: THE KING OF K-POP Premiere held at NeueHouse Hollywood in ... More Hollywood, CA on Monday, May 12, 2025. (Photo By Sthanlee B. Mirador/Sipa USA) Lee Soo Man: King of K-Pop delves into Lee's remarkable career and profound impact on the Korean entertainment industry, from his beginnings as a popular singer-songwriter in Korea to his rise as the visionary founder and chief producer of SM Entertainment, one of the largest K-pop agencies in the world. The documentary also addresses the controversies that led to his ouster from SM Entertainment and traces his subsequent remarkable comeback as the founder and lead producer of A2O Entertainment. HOLLYWOOD, CALIFORNIA - MAY 12: Lee Soo Man attends the premiere of Prime Video's "Lee Soo Man: The ... More King of K-Pop" at NeueHouse Hollywood on May 12, 2025 in Hollywood, California. (Photo by Amy Sussman/GA/The Hollywood Reporter via Getty Images) During his time at SM Entertainment, Lee created and refined the K-pop idol system that is responsible for shaping K-pop as we know it today. Under Lee's guidance, many of SM Entertainment's earlier artists like H.O.T. (widely considered to be the first K-pop idol group), TVXQ!, BoA and Super Junior popularized K-pop in overseas markets and laid the foundations for K-pop to grow into a global phenomenon. As the documentary notes, beginning with its boy band EXO, SM Entertainment also introduced 'concepts' (an overarching theme for an artist or one of their albums) and 'universes' (fictional worlds built around a particular K-pop group that often involve elaborate storylines) into K-pop storytelling that became widely adopted across the K-pop industry over the years. Lee Soo Man: King of K-Pop is available to stream on Amazon Prime Video.
