Kakao takes control of SM Entertainment, one of South Korea’s most iconic music agencies.
Hong Kong/Seoul CNN — South Korean internet company Kakao has become SM Entertainment’s largest shareholder, winning the battle for control of one of the country’s most iconic music agencies. Kakao and its entertainment arm increased their stake in SM to 39.9%, regulators said in a statement Tuesday. The firm previously owned 4.9% of SM. Kakao
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