Hybe — the parent company of BTS — has become the largest shareholder of SM Entertainment, the Korean entertainment giant widely credited as a major player in the worldwide popularity of K-Pop today. This has the potential to create an unprecedented monopoly in the K-Pop space, and is one of the biggest (if not the biggest) deals in the history of the industry.
“With our collaborative effort, we can become the most innovative game changer in the global music industry,” Hybe CEO Park Jiwon wrote in an open letter.