CJ ENM has finally decided not to acquire a stake in SM Entertainment.

This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology

Paul Lee Reporter

hoondork1977@alphabiz.co.kr | 2023-02-27 06:43:20

SM엔터테인먼트 이수만 전 총괄 프로듀서와 하이브 방시혁 의장 (사진 = 연합뉴스)

[Alpha Biz=(Chicago) Reporter Paul Lee] CJ ENM has finally decided not to acquire a stake in SM Entertainment.

CJ ENM announced on the 24th, "We considered acquiring a stake in SM and business synergy to strengthen the music content business, but finally decided not to acquire it."

Amid the recent fierce battle between Hive and Kakao to acquire SM, there have been reports that CJ ENM will also jump into it. At the time, however, CJ Group nailed it as "groundless."

 

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