Kakao‧ Kakao Entertainment gave their perspective on Hive’s decision to stop acquiring SM.
Today (12th), Kakao and Kakao Entertainment said in an official statement, “Kakao and Kakao Entertainment are partners with Hive and SM Entertainment that have mutually positive influences, and establish various cooperative relationships to enhance the global status of K -pop and K We agreed to continue,” he said.
“Kakao and Kakao Entertainment will secure additional shares by proceeding with the tender offer scheduled for the 26th as planned, as uncertainty has been resolved with Hive’s decision, and we will realize business cooperation with Hive and SM Entertainment .”
Additionally, “Kakao guarantees autonomous/independent operation to respect SM Entertainment’s strongest assets and driving force, employees, artists, and fandom, and is committed to global growth focused on future visions and strategic directions , including SM 3.0, presented by the current management. “Specifically, based on SM Entertainment’s IP and global production system, Kakao and Kakao Entertainment’s IT technology and IP value chain business capabilities, we will go beyond to expand IP music and create new synergy through a combination of IT and IP • plan to pay Through this, we will strengthen the global competitiveness of each company and make active efforts so that the K culture industry can become another national competitiveness.”
In addition, “To continue growing on the fierce global stage, we need not only excellent IP competitiveness and IT technology, but also good will competitors who compete with each other and share knowledge of success. Kakao and Kakao Entertainment will contribute to raising the status of K-Culture in the global market through cooperation and fair competition with industry partners, so that it can grow into Korea’s next major export industry with a sense of scale.”
Finally, “Kakao and Kakao Entertainment feel a deep sense of responsibility for worrying not only the shareholders, employees, artists and fans of each company, but also many people who care and love K-Culture during the acquisition process . We will do our best to complete the acquisition quickly and smoothly based on the discussions with Hive while taking into account the concerns of the public and financial authorities about the competitive process.”
As a result, SM Entertainment’s acquisition war ended with Kakao taking the management rights and Hive cooperating with the platform.
YTN star Kong Young-joo (gj920@ytn.co.kr)
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[저작권자(c) YTN 무단전재 및 재배포 금지]
