SK Hynix’s $28 Billion U.S. Share Sale Draws Massive Demand Amid AI Chip Boom 
Germany Seen Gaining as U.S. China-Built Ship Fees Reshape Trade 
Zhipu AI Raises HK$31.37 Billion in Discounted Share Sale to Accelerate AI Growth 
BHP Faces Port Hedland Strike Threat as Iron Ore Export Risks Grow 
Venezuela Earthquake Death Toll Climbs to 3,811 as Government Seeks Sanctions Relief 
SK Hynix’s $28B U.S. IPO Draws Strong Demand as AI Chip Boom Fuels Investor Interest 
Dollar Slips as Oil Prices Ease, Fed Rate Outlook Remains Uncertain 
Oil Prices Slip but Stay on Track for Weekly Gains as U.S.-Iran Conflict Persists 
Dollar Ends Week Higher as Yen Jumps on Japan Pension Fund Investment Plans 
Oppenheimer Sees CNH Industrial as Top 2026 Agriculture Stock Pick on Dealer Consolidation Strategy 
Levi Strauss Raises 2026 Outlook After Q2 Earnings Beat, Shares Drop Despite Strong Results 
US Stock Futures Steady as Oil Prices Ease, Iran Talks Boost Market Sentiment 
Asian Stocks Rise as AI Chip Rally Offsets Middle East Tensions 
OpenAI Executive Fidji Simo to Step Down Amid Health Challenges Ahead of IPO 
Japan Eyes Bigger GPIF Investment in Domestic Assets as BOJ Independence Concerns Grow 
SK Hynix Soars 13% in Nasdaq Debut After Record $26.5 Billion IPO 
Gold Price Rebounds as U.S.-Iran Tensions and Fed Minutes Keep Markets on Edge 
CJ ENM, one of the most well-known entertainment companies in South Korea, is said to be buying SM Entertainment, another leading firm in the country's entertainment business. Based on the recent reports, the acquisition deal is already in the final stage.
For this deal, CJ ENM will not be acquiring the entire SM Entertainment, but it will only get a controlling stake. It was reported that the Seoul-based entertainment and mass media company created by CJ Group succeeded in its bid for the purchase of a stake in SM after doubling its price offering.
According to Pulse News, CJ ENM valued SM Entertainment at around ₩3 to ₩4 trillion, which showed the doubled price offering as the market cap stood at ₩1.8 trillion as of Thursday, Oct. 21. It was added that the companies are expected to formally announce about the acquisition this Friday.
Sources from the investment banking industry stated that CJ ENM is looking to acquire an 18.73% stake in the entertainment company that is home to many popular Kpop artists and groups, including EXO, Girls Generation, Shinee, Super Junior, NCT, Red Velvet, and the newest girl group, aespa. The said stake is owned by SM's founder, Lee Soo Man, so his shares have been reduced.
Once the acquisition deal is signed and sealed, CJ ENM will be SM Entertainment's biggest shareholder. It was noted that Lee would continue to manage the content business as chief producer after CJ joins the company.
In a new update about the acquisition of SM Entertainment, The Korea Times reported that CJ ENM confirmed its interest in buying a controlling stake in the iconic Kpop agency.
"CJ ENM has opened a lot of possibilities. It's true we are in discussions with a lot of entities, but we can't open up on the specifics or the target companies we are talking with," an official from CJ ENM reportedly stated. "Regarding CJ ENM's possibility of acquiring a stake in SM Entertainment, nothing has been decided on yet for the time being."
Meanwhile, while Lee Soo Man will continue to lead SM Entertainment even after the acquisition transactions are completed, CJ ENM is said to be planning to separate its music business unit. Prior to the news of CJ ENM and SM's deal, it was also previously reported that Kakao also expressed interest in the takeover.
