South Korea's HYBE jumps on new partnership with Universal Music Group

HYBE

27/03/2024 24:26

** Shares of HYBE  352820.KS , the largest K-Pop agency in
South Korea managing supergroup BTS, jump on a new partnership
agreement with Universal Music Group  UMG.AS  (UMG)
    ** HYBE shares rise as much as 7.40% to hit their highest
level since Jan. 19 
    ** The new agreement will give UMG exclusive distribution
rights across HYBE's artists and labels 
    ** UMG to further collaborate with HYBE's platform Weverse 
    ** HYBE shares up 6.44% as of 0016 GMT, broader KOSPI
 .KS11  down 0.01%

 (Reporting by Jihoon Lee)
 ((jihoon.lee@thomsonreuters.com))