South Korea's HYBE to sell its stake in SM Entertainment
24/03/2023 01:42
SEOUL, March 24 (Reuters) - South Korean music label
HYBE, which manages K-pop group BTS, will sell its 15.78% stake
in rival SM Entertainment, the company said in a regulatory
filing on Friday.
HYBE said the decision comes after dropping its bid to
acquire SM's management's rights earlier this month.
(Reporting by Hyunsu Yim; Editing by Jacqueline Wong)
((Hyunsu.Yim@thomsonreuters.com;))
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