57

4

News
Posted by Germaine-Jay Tuesday, January 30, 2024

Kakao officially denies rumors of selling SM Entertainment

AKP STAFF

Kakao has officially denied the rumors of selling SM Entertainment.

Following rumors
 of Kakao Entertainment looking to sell SME, Kakao has officially declared the rumors are not true. The speculation about Kakao's sale of SM Entertainment began at the end of last year, which was fueled by controversy over stock price manipulation during Kakao's acquisition of SM Entertainment that led to the arrest of chief investment officer Bae Jae Hyun.

Kakao is also currently conducting an audit of SM Entertainment's financial statements and executives following the demands of the company's Board Audit Committee. Kakao has further requested documentation regarding the investments made by SME, which were carried out without the prior consultation with the parent company.

However, Kakao has continued to deny rumors about the sale of SM Entertainment, and they further stated no decision was made about the possible dismissal of SM Entertainment's management team as the audit results are not yet released.

Stay tuned for updates. 

  1. misc.
  2. KAKAO
  3. SM ENTERTAINMENT
11 5,440 Share 93% Upvoted
 
Slutpink
Slutpink-553 pts Tuesday, January 30, 2024 0
Tuesday, January 30, 2024

both SME and Kakao are corrupt and rotten to the core. both can't be trusted.

Kakao, like the monopoly they are, even less.

5 (+8 / -3)
Share
 
streamingisfake
streamingisfake3,005 pts Tuesday, January 30, 2024 0
Tuesday, January 30, 2024

Good but get rid of all those greedy&lazy guys who're eating the artists' money without doing anything for them or are using the artists' money to promote only a few favorites

3 (+4 / -1)
Share

SHOW ALL COMMENTS

allkpop in your Inbox

THE TOP 10 STORIES DELIVERED DAILY
Lee Da Hae
BTS, V, Min Hee Jin
Jiyeon
Han Seo Hee
Min Hee Jin, NewJeans
Lee Hyori, Lee Sang Soon
AOA, Seolhyun
Ailee, Taeyang, Sooyoung, Gummy, Han Ji Min, IU, Jo Jung Suk, Jung Kyung Ho, Ki Tae Young, Kim Tae Hee, Lee Da Hae, Lee Da In, Lee Jong Suk, Lee Seung Gi, Min Hyo Rin, Rain, Se7en, Eugene
aespa, Lee Soo Man
Buzz
BTS, V, Park Hyo Shin
BTS, V, Min Hee Jin
Red Velvet, Irene
KATSEYE, RIIZE, Seunghan
Suzy
New Message

SEND