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On April 2, the U.S. Patent Office recently granted Apple a patent for an all-glass device casing, covering Apple Watch, Mac and double-sided display iPhone design. The patent document shows that the future iPhone may use a six-sided transparent glass body, and the front, back and sides can be used as display screens.French Industry Minister: (Speaking of Trumps tariffs) Europe must show strength and not be naive.Frances industry minister reiterated that Europe would respond in a measured way to possible tariffs imposed by Trump.Futures news on April 2: 1. The trading volume of WTI crude oil futures was 958,249 lots, a decrease of 3,523 lots from the previous trading day. The open interest was 1,836,896 lots, a decrease of 2,747 lots from the previous trading day. 2. The trading volume of Brent crude oil futures was 183,942 lots, an increase of 28,118 lots from the previous trading day. The open interest was 188,972 lots, an increase of 199 lots from the previous trading day. 3. The trading volume of natural gas futures was 413,837 lots, a decrease of 48,458 lots from the previous trading day. The open interest was 1,636,177 lots, an increase of 11,561 lots from the previous trading day.Futures April 2, Economies.com analysts latest view today: Brent crude oil futures prices fell as it tried to release the overbought saturation in the stochastic indicator and a negative signal appeared. At the same time, prices are accumulating positive momentum, ready to rebound and rise again. In the short term, the upward correction trend dominates, and prices are trading along the trend line.

BTS Agency HYBE Aims to Acquire K-pop Competitor SM Entertainment

Charlie Brooks

Feb 10, 2023 11:10

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South Korean entertainment business HYBE announced on Friday that it will acquire $335 million worth of shares in rival SM Entertainment in order to bolster its dominance in the K-pop sector.


The transaction will make HYBE the top shareholder of SM Entertainment, as it acquires a 14.8% stake in its rival from the previous largest shareholder and SM founder, Lee Soo-man, for an 18.4% stake, the company stated in a statement.


"HYBE agrees completely with former Chief Producer Lee's strategic ideas, such as metaverse, a multi-label system, and the sustainable vision campaign," stated HYBE Chairman Bang Si-Hyuk.


The agency HYBE oversees the K-pop supergroup BTS. NCT and Aespa are two further popular K-pop bands that call SM their home.


Friday, HYBE also made an offer for SM shares owned by minority owners, attempting to acquire up to 25 percent of the rival agency in order to acquire managerial powers.


SM, JYP, and YG Entertainment dominated the South Korean pop music industry for many years, until the international success of K-pop boy band BTS made HYBE larger than the other three.


But over the next couple of years, all seven BTS members are slated to complete their military service, beginning with Jin, the group's oldest member, who enlisted in December. The septet will not return in its entirety until 2025.


Kim Do Heon, a music critic, believes that SM Entertainment's large portfolio may prove economically advantageous for HYBE now that the group is on hiatus.


"HYBE grew into a giant, but its flaw was that it lacked a legacy. SM is a corporation that has existed throughout the history of K-pop and will bring its legacy to HYBE "Kim stated.


As of 11:05 a.m., HYBE and SM Entertainment shares were up 6% and 16%, respectively (0205 GMT).


This Monday, the South Korean tech company Kakao Corp announced that it would purchase a 9.05 percent share in SM Entertainment in order to develop cooperative ventures, such as global K-pop auditions.

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