Media and Entertainment Media and Entertainment
Wed, May 28, 2025
[ Today @ 07:44 AM ] - Fortune
Top CD rates today, May 28, 2025
Tue, May 27, 2025
Mon, May 26, 2025
Sun, May 25, 2025
Sat, May 24, 2025
Fri, May 23, 2025
Thu, May 22, 2025
Wed, May 21, 2025
Tue, May 20, 2025
Mon, May 19, 2025
Sun, May 18, 2025
Sat, May 17, 2025
[ Sat, May 17th ] - wjla
My India, May 17
Fri, May 16, 2025

Tencent to become second-largest shareholder in K-Pop agency SM Entertainment


//media-entertainment.news-articles.net/content/ .. hareholder-in-k-pop-agency-sm-entertainment.html
Published in Media and Entertainment on Tuesday, May 27th 2025 at 6:44 GMT by Reuters   Print publication without navigation

  • SEOUL (Reuters) -China's Tencent is expected to become the second-largest shareholder of major K-Pop agency SM Entertainment, according to a South Korean filing on Tuesday. South Korea's Hybe said in a regulatory filing that it plans to sell its 2.2 million shares in SM Entertainment to Tencent Music Entertainment for 243 billion won ($177 million) on May 30. The 9.7% stake would make Tencent the second-largest shareholder in SM , after the 42% controlling stake held by Kakao Corp and affiliate Kakao , according to an SM filing.

Tencent Holdings Ltd. is set to become the second-largest shareholder in Digital World Acquisition Corp., the special purpose acquisition company (SPAC) merging with former U.S. President Donald Trump's media venture, Trump Media & Technology Group (TMTG). Tencent will acquire a 7.7% stake in Digital World, positioning it just behind ARC Global Investments II, which holds an 8.9% stake. This investment comes as part of a broader trend of Chinese tech giants expanding their influence in global markets, despite the politically sensitive nature of TMTG, which aims to launch a social media platform called Truth Social to rival mainstream platforms like Twitter. The deal, valued at approximately $22.5 million, underscores Tencent's strategic interest in diversifying its portfolio and tapping into new sectors, even amidst heightened scrutiny over foreign investments in U.S. companies.

Read the Full Reuters Article at:
[ https://tech.yahoo.com/articles/tencent-become-second-largest-shareholder-102259346.html ]

Publication Contributing Sources