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KPOPPOST

Naver and Kakao to Compete Over SM Entertainment Acquisition: Who Will Win?

KpopPost Editor by KpopPost Editor
May 27, 2021
in News
1
Naver Kakao Entertainment acquire SM Entertainment

Naver and Kakao Entertainment are reported to be in discussion on the plans for SM Entertainment acquisition. The move is said to be a continuation step to use the Hallyu wave as a method to expand global market activities.

Table of Contents

  • Naver and Kakao Entertainment to Take Over SM Entertainment Largest Shares
    • Why are Naver and Kakao Entertainment Competing Over SM Entertainment Acquisition?
    • A Statement from Lee Soo Man regarding SM Entertainment Acquisition
    • Naver VS Kakao Entertainment: Which One is Better?
      • More to Read about Kpop:

Naver and Kakao Entertainment to Take Over SM Entertainment Largest Shares

On May 26, reports from the investment banking industry stated that Naver and Kakao Entertainment are both in discussion to take over shares belonging to Lee Soo Man, the largest shareholder of SM Entertainment. However, it’s not yet decided whether the deal will involve all or only a portion of Lee Soo Man’s shares.

Furthermore, both Naver and Kakao Entertainment are still discussing the best methods to carry out the acquisition deal. According to the reports, the plans in the discussion are either to exchange shares or to trade new shares.

Lee Soo Man photoshoot for a magazine.
Lee Soo Man photoshoot for a magazine.

Why are Naver and Kakao Entertainment Competing Over SM Entertainment Acquisition?

It is widely known that Naver and Kakao Entertainment are two most prominent companies responsible for entertainment content distributions. Music, radio, webnovels, and webtoons, both companies are always in the competition to be ahead of each other. And of course, to be on top of everyone else in this field.

SM Entertainment acquisition is a move resulting in a mutual benefit for both SM Entertainment and whoever wins the competition. First, the one who wins the deal will get access to one of Korea’s biggest entertainment companies with its promising artists and the SM Studio. SM Studio is an establishment with a 1 trillion KRW (almost 1 billion USD) investment funds if it goes through. Meanwhile, SM Entertainment will be able to broaden its network to a larger platform.

A Statement from Lee Soo Man regarding SM Entertainment Acquisition

As of today, there has yet been any official statement regarding the news of SM Entertainment acquisition either from the company or Lee Soo Man himself. However, reports mentioned that Lee Soo Man believed that a partnership is necessary so the company would be able to enhance further.

Moreover, there has been a rumor circulating in the industry that Lee Soo Man has no intention to pass down his SM Entertainment shares to his children.

Lee Soo Man, founder of SM Entertainment.
Lee Soo Man, founder of SM Entertainment.

Naver VS Kakao Entertainment: Which One is Better?

Both are giant distribution companies with a massive network and a wide range of online platforms in the entertainment industry. Deciding the better one will be challenging since Naver owns V LIVE and has aggressively invested into BNX—a HYPE label subsidiary—and YG Entertainment. Choosing a partnership with Naver will result in a massive additional development for the company.

Meanwhile, Kakao Entertainment already owns K-Pop artists flying under their wings via their affiliated labels with Starship and PlayM Entertainment. Additionally, its parent company, Kakao Corp., operates Melon, the most prominent digital music platform in South Korea. A partnership with Kakao Entertainment will expand the company’s potential and networking even further.

so Kakao and Naver are going to buy Lee Soo Man’s stock in SM??? I’m actually scared

— ilmi | joylo (@lordjwoo) May 26, 2021

From what i understood Naver and Kakao are competing with each other because they both want to convince Lee Soo Man to give them some of his shares but it’s not like he will agree lol

— majo🌶 (@starboyljn) May 26, 2021

Whichever finally wins the deal later, let’s hope that they can come to a final decision as soon as possible. That is because the media also mentioned that a giant production and media company from China, Tencent, is also looking to invest in SM Studios.

What a day for Lee Soo Man and SM Entertainment! Let’s cheer for the best for them!

While we’re waiting, let’s check out the following video of a fun talk show between Lee Soo Man and BoA. BoA is one of Lee Soo Man’s most respectable artist. She played a huge part on the development of SM Entertainment. That is why they seem to be close with each other. Enjoy how he hilariously commented about the JYP (Park Jin Young) audition.

More to Read about Kpop:

  • 8 Facts about aespa Comeback Single ‘Next Level’ MV to iTunes Charts
  • JYP Entertainment Carries Out Legal Actions on Stray Kids Stalking Incident
  • 8 Facts You Have to Know about SMTOWN LIVE “Culture Humanity” Online Concert
  • Did Kpop Singer BoA Smuggle Sleeping Drugs to South Korea?
  • TVXQ Yunho Tried to Flee from Police at Illegal Adult Entertainment, SM Entertainment Denied
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Tags: BusinessKakaoNaverSM Entertainment
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