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#acquisitions

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Bytes Europe

SM Entertainment increases stake in superfans startup DearU byteseu.com/886813/ #acquisitions #Entertainment #KPop #SMEntertainment #SouthKorea #superfans

Bytes Europe · SM Entertainment increases stake in superfans startup DearU2025 is turning out to be a news-packed year for superfan platforms in the K-Pop world.Hybe is continuing to invest in its Weverse service, including attracting international artists, while Kakao Entertainment has launched a rival platform called Berriz. Now another South Korean music firm, SM Entertainment, is stepping up its superfans strategy.It has increased its stake in DearU, which runs a superfan platform called Bubble offering messaging and K-Pop artist livestreams.MBW reported that a financial filing by SM revealed that it had acquired an additional 11.42% stake in DearU for KRW 135.6bn – $92.6m at current exchange rates – valuing the
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☮ ♥ ♬ 🧑‍💻

“Elon Musk said on Friday (Saturday AEDT) that his #xAI has acquired X, the social media app formerly known as #Twitter, in an all-stock transaction for $US45 billion ($71.5 billion), including debt.

xAI and X’s futures are intertwined. Today, we officially take the step to combine the #data, #models, #compute, #distribution and #talent,” #Musk said in a post on X, adding that the combined company would be valued at $US80 billion.”

#business / #acquisitions / #CreativeAccounting <archive.md/in6TN> / <afr.com/technology/musk-s-xai-> (paywall)

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