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HYBE to Sell Entire SM Entertainment Stake to Kakao, Ending Battle for Control of K-Pop Giant

South Korea’s HYBE said Friday (March 24) it will sell its stake in SM Entertainment, officially ending a bidding war between HYBE and the South Korean tech company Kakao for control of the K-pop agency that was key to the genre’s popularity and overseas expansion in recent years.

HYBE, home of superstar boy band BTS, said in a filing it will sell its roughly 15% stake in SM for nearly 564 billion won ($435 million) to Kakao, which earlier this month announced a tender offer aimed at acquiring up to 35% of SM Entertainment’s outstanding shares.

Kakao Entertainment owns Monsta X‘s K-pop record label, Starship Entertainment, as well as the South Korean music streaming app Melon, the North America-based webtoon company Tapas Entertainment and several media production companies. It’s a subsidiary of the tech conglomerate Kakao Corp.

HYBE acquired most of its shares in SM in February from SM founder Lee Soo-man, who was recently ousted from the company after shareholders called for changes in SM’s structure. For over a decade, Lee exercised top-down control of the company he started in 1995, and shareholders had raised questions over millions of dollars he received in producer fees annually.

Lee sold his shares to HYBE in retaliation for a move by SM to issue stock to Kakao, ultimately prompting HYBE’s attempt to secure a majority stake in SM through a tender offer. HYBE relented in mid-March because, it said, outbidding Kakao could have “a negative impact on our shareholders.”

Just days after canceling the company’s bid for control of SM, HYBE founder/chairman Bang Si-hyuk reiterated his desire to expand beyond Korea in an effort to eventually compete with the three major labels – Universal Music Group, Sony Music Entertainment and Warner Music Group — on a global scale, stating the company must have a “sense of urgency” in doing so.

Bang additionally signaled a desire for outside support for K-pop companies in their attempts to rival the majors, including possibly from the South Korean government, which has helped elevate Korean companies in other industries into global players. HYBE has already made strides on that front with two U.S. acquisitions — Scooter Braun’s Ithaca Holdings and QC Media Holdings, parent company of hip-hop label Quality Control Music, which Bang said are “just the beginning” in its bid for worldwide domination.

SM and HYBE have in recent years dominated South Korean and global pop charts. Together they accounted for nearly half of all albums sold in South Korea in 2022, according to Korean chart company Circle Chart.

HYBE’s planned stock sale could net the company $87 million, the equivalent of a 25% return on its purchases of Lee’s shares one month ago, Reuters reported earlier on Friday.

Kaskade & Deadmau5 Come Together to Light Up Billboard’s The Stage at SXSW 2023

During SXSW 2023, Billboard returned to Moody Amphitheater at Waterloo Park for 3 nights of concerts spanning 3 different genres. Billboard and Carnival Cruise Line teamed up for the final night to deliver a fun, unforgettable experience for music fans at THE STAGE. Carnival Cruise Line brought two fun activations to the party in Austin that elevated the consumer experience on-site.

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Trailblazing electronic producers Kaskade and deadmau5 joined forces to create a new DJ duo under the moniker Kx5. The timing of this headlining performance couldn’t have been better as Kx5’s debut album had only been released to the world 24 hours before the show. 

Guests at Billboard Presents The Stage at SXSW held at the Moody Amphitheater at Waterloo Park on March 18, 2023 in Austin, Texas.

Guests at Billboard Presents The Stage at SXSW held at the Moody Amphitheater at Waterloo Park on March 18, 2023 in Austin, Texas.

Izzy Nuzzo for Billboard

While waiting in line on Red River Street, festival goers were greeted by a giant Carnival Cruise Line-themed slide inspired by the water slides on Carnival cruise ships. 

Guests at Billboard Presents The Stage at SXSW held at the Moody Amphitheater at Waterloo Park on March 18, 2023 in Austin, Texas.

Guests at Billboard Presents The Stage at SXSW held at the Moody Amphitheater at Waterloo Park on March 18, 2023 in Austin, Texas.

Izzy Nuzzo for Billboard

Guests at Billboard Presents The Stage at SXSW held at the Moody Amphitheater at Waterloo Park on March 18, 2023 in Austin, Texas.

Guests at Billboard Presents The Stage at SXSW held at the Moody Amphitheater at Waterloo Park on March 18, 2023 in Austin, Texas.

Izzy Nuzzo for Billboard

Prior to the electrifying set from Kx5, DJ Logan Garrett and DJ Soxxi kicked the party off with high-energy sets featuring some of the hottest electronic dance music songs. In between performances, fans made their way to Carnival’s Cherry on Top™ activation, which was inspired by the candy store of the same name on board all Carnival Cruise Line ships. Upon arrival, fans with general admission tickets could upgrade to VIP at the Cherry on Top™ activation. 

Carnival at Billboard Presents The Stage at SXSW held at the Moody Amphitheater at Waterloo Park on March 18, 2023 in Austin, Texas.

Carnival at Billboard Presents The Stage at SXSW held at the Moody Amphitheater at Waterloo Park on March 18, 2023 in Austin, Texas.

Brandon Todd for Billboard

Carnival at Billboard Presents The Stage at SXSW held at the Moody Amphitheater at Waterloo Park on March 18, 2023 in Austin, Texas.

Carnival at Billboard Presents The Stage at SXSW held at the Moody Amphitheater at Waterloo Park on March 18, 2023 in Austin, Texas.

Izzy Nuzzo for Billboard

Kaskade and Deadmau5 delivered an hour of nonstop, back-to-back transitions that kept fans dancing through a chilly Austin night. Notable content creator Eric Sedeño joined the party on Saturday and interacted with fans on-site before sharing his perspective of the show on socials!

K5; Kaskade; Deadmau5 at Billboard Presents The Stage at SXSW held at the Moody Amphitheater at Waterloo Park on March 18, 2023 in Austin, Texas.

K5; Kaskade; Deadmau5 at Billboard Presents The Stage at SXSW held at the Moody Amphitheater at Waterloo Park on March 18, 2023 in Austin, Texas.

Brandon Todd for Billboard

The Carnival Cruise Line slide and Cherry on Top™ activations were key moments for attendees at THE STAGE. Fans took full advantage of the additional fun on-site and our ten lucky fans were elated to receive ticket upgrades to experience Kx5 up close & personal. Stay tuned for more from Billboard at SXSW and check out the content Eric created for a recap from the night.

Carnival’s newest ship, Carnival Celebration™, is now sailing out of Miami and her sister ship, Carnival Jubilee™ will be setting sail soon in 2023 out of Galveston. Plus, two new ships will be bringing a unique Fun Italian Style flair to the fleet, Carnival Venezia™ setting sail this Spring out of NYC and Carnival Firenze™ setting sail out of Long Beach in 2024. Head to carnival.com to explore destinations and book your next cruise.

Ricky and guest at Billboard Presents The Stage at SXSW held at the Moody Amphitheater at Waterloo Park on March 18, 2023 in Austin, Texas.

Ricky and guest at Billboard Presents The Stage at SXSW held at the Moody Amphitheater at Waterloo Park on March 18, 2023 in Austin, Texas.

Izzy Nuzzo for Billboard

Humbe, Maluma, Anuel AA & More: What’s Your Favorite New Latin Music Release? Vote!

This week, our New Music Latin roundup—a compilation of the best new Latin songs, albums, and videos recommended by the Billboard Latin and Billboard Español editors each week—is powered by new music from Humbe, Myke Towers and Maluma, to name a few.

The list includes full-length albums by Myke Towers and Humbe. The former released his 23-track La Vida Es Una (Life is One), where he moves away from his trap and hip-hop core and experiments with alternative, EDM, and funk, as well as collaborations with Daddy Yankee, Ozuna, J Balvin, Arcángel, and more. The latter’s ESENCIA is home to 11 tracks that fuse beautiful atmospherics with Humbe’s signature pop sound, resulting in an album full of introspection — or in his own words via a press release, he had to “search through his own story to deliver his essence.”

Meanwhile, power couple Rauw Alejandro and Rosalía dropped their three-track EP RR, a swoon-worthy, open-hearted slice of Latin pop that’s swirled together with adventure, lust, and romance — giving any love skeptics hope. The official music video to the set’s “Beso” even came equipped with their engagement announcement.

Also on the list are exciting collaborations such as Andrés Cepeda and Gusi’s “Duele,” Grupo Firme and Junior H’s “Trotando Ligas,” Bizarrap and Arcángel’s “Arcángel: BZRP Music Sessions, Vol. 54,” and Maluma and Anuel AA’s “Diablo, Qué Chimba,” to name a few.

Vote for your new favorite release below, followed by our weekly New Music Latin playlist:

Ed Sheeran, Lana Del Rey, Luke Combs & More: Which Music Release Is Your Favorite? Vote!

Spring has officially sprung, and with it comes the arrival of new music from multiple artists on the first new music Friday of the season. Among them are brand new tracks and albums from Ed SheeranLana Del ReyLuke Combs and more.

Sheeran offers a preliminary look at Subtract, the final installment of his mathematics album series, with new track “Eyes Closed.” The song serves as a tribute to his late best friend, Jamal Edwards, who died suddenly from a heart attack, and offers a potent message of mourning after an unexpected loss. the British pop star worked with Aaron Dessner for the production, which combines Sheeran’s calling cards — acoustic guitar, sparse drum beats and memorable hooks — with whirring arrangements, making for a radio-friendly track, regardless of its sad subject matter.

Del Rey’s ninth album, Did You Know That There’s a Tunnel Under Ocean Blvd, also arrived on Friday. In the set, she muses on sex, devotion, family and American decay, but this time, with a series of guests providing an assist — Tommy Genesis, Jon Batiste and Bleachers to name just a few — showing that once again, she’s trying to challenge herself in ways she previously hasn’t. (Read a full review and tracks ranking of Lana Del Rey’s latest album here.)

The follow-up to Luke Combs’ Growin’ Up, the aptly titled Gettin’ Old, sees the country star further honing in on his songwriting skills, reflecting peacefully on his hometown, his career beginnings and the unfurling of a promising romance.

BTS’ Jimin, Rosalía with Rauw Alejandro, and Fall Out Boy also return with new music. Which new release is your favorite? Vote in our poll below.

Jon Hamm Joins ‘Mean Girls’ Movie Musical Cast

Jon Hamm is heading to North Shore High. The actor will be joining the cast of the upcoming Mean Girls movie musical as Coach Carr, the gym teacher and bungling sex-ed teacher, according to The Hollywood Reporter.

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Hamm will star alongside Tina Fey and Tim Meadows, who will reprise their respective roles as Ms. Nordbury and Principal Duvall in the musical adaptation of the beloved 2004 film. In a recent Late Night with Seth Meyers appearance, Fey said filming for the Lorne Michaels-produced movie began earlier this month with a cast that also includes Angourie Rice (Cady Heron), Auli’i Cravalho (Janis Ian), Renée Rapp (who originated the role of Regina George on Broadway) and Jaquel Spivey (Damian).

The musical based on the teen comedy that starred Lindsay Lohan, Rachel McAdams, Lacey Chabert and Amanda Seyfried was turned into a hit coming-of-age Broadway musical in 2018 with a book by Fey after making its premiere at the National Theatre in Washington, D.C. in Oct. 2017.

The musical with music from Fey’s husband, composer Jeff Richmond, and lyrics by Nell Benjamin (Legally Blonde), features the songs “Where Do You Belong?,” “Meet the Plastics,” “Apex Predator,” “Stupid With Love,” “More Is Better” and “I’d Rather Be Me,” among others. Fey said the original compositions from the show will be adjusted for the film, with the actor/writer/producer promising that they will be more “pop.”

Nicky Jam Makes Regional Mexican Debut With Luis R. Conriquez: ‘It Seemed Like the Perfect Song for Me’

Luis R. Conriquez managed to do what few would have imagined: lead Nicky Jam to venture into regional Mexican music. The Mexican singer and the Puerto Rican urban star dropped their collaboration “Como el Viento” Friday (March 24), after recording it in Miami last month during the week of Premio Lo Nuestro.

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Written by Ángel Sandoval, Abbel and O’RLY, and released under Kartel Music, “Como el Viento” talks about being disappointed in a relationship and the attempt to overcome it. “But there I go like the wind/ I’m like a tornado picking up alcohol to overcome this fear/ Because you’re so pretty and I haven’t found the perfect substitute,” the stars sing in Spanish.

“I’ve always respected regional Mexican music. It’s not from my culture — in Puerto Rico you hear more salsa, merengue and Caribbean music, but I lived 10 years in Colombia, and over there you listen to it a lot. So they showed me this song and I thought it was the perfect one for me,” Jam exclusively tells Billboard Español.

“I used to listen a lot to Nicky Jam’s music,” Conriquez adds. “I remember a song that I particularly liked, ‘Dónde Están las Gatas’. Also, I saw the series about his life and I really liked knowing how everything was happening in his career, so meeting him in person when we made the video in Miami was awesome.”

During the shooting of the clip, both say they found similarities in their lives that created a chemistry between them. “He’s very authentic,” Jam says. “He comes from the barrio like me. … It felt like I was with a friend. We drank some tequilas and had a very good time”.

“It was very gratifying that he congratulated me on what I have achieved,” adds Conriquez. “We had a great time and you will see that in the video.”

This is Jam’s first team-up with a Mexican artist since 2016, when he recorded a cover of “De Pies a Cabeza” with the group Maná, but that was a pop song.

A believer in collabs, Conriquez has already teamed up with Grupo Frontera, Marca Registrada, Peso Pluma and Alfredo Olivas so far in 2023. And soon, he will be releasing others with Darey Castro and Fidel Rueda, two of his idols from regional Mexican.

He also hints that “Como el Viento” may not be his only effort with Jam — “very soon we could be doing another, more of the urban kind” — and reveals he is already working with other urban acts. “Collaborations are in the [making] with very important people like Farruko and El Alfa, to keep blending our regional Mexican with urban music,” he says.

Watch the music video for “Como el Viento” below:

Hailey Bieber Thanks Selena Gomez for ‘Speaking Out’ Against Feud Rumors: ‘I Believe Love Will Always be Bigger’

Hailey Bieber has broken her silence in the midst of reports of her alleged feud with Selena Gomez, who previously dated the model’s husband Justin Bieber.

The star posted a lengthy message to her Instagram Stories on Friday (March 24), thanking Gomez for “speaking out,” noting that the two have “been discussing the last few weeks how to move past this ongoing narrative between her and I.”

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Bieber’s note comes just hours after Gomez took to her own IG Story to urge fans to stop bullying the Rhode founder, after Hailey reached out to the Only Murders in the Building star to let her know that she’d been receiving death threats and “such hateful negativity.”

“This isn’t what I stand for,” Gomez said unequivocally. “No one should have to experience hate or bullying. I’ve always advocated for kindness and really want this all to stop.”

Bieber echoed Gomez’s sentiments in her note, writing, “The last few weeks have been very hard for everyone involved and millions of people are seeing so much hate around this which is extremely harmful. While social media is an incredible way to connect and build community, moments like this only create extreme division instead of bringing people together.”

She continued, “Things can always be taken out of context or construed differently than they were intended. We all need to be more thoughtful about what we post and what we say, including myself. In the end, I believe love will always be bigger than hate and negativity, and there is always an opportunity to meet each other with more empathy and compassion.”

See her post here before it disappears.

Rumors of a feud began when Gomez confessed on TikTok in February that she’d over-laminated her eyebrows. Kylie Jenner then shared a photo with her friend Hailey holding the camera close up to their own professional-looking brows.

Fans believed that the similarities between the posts was no coincidence, and that perhaps the reality star and model were making fun of Gomez. “This is reaching,” the Kardashians star commented about the situation on a TikTok. “No shade towards selena ever and I didn’t see her eyebrow posts! u guys are making something out of nothing. this is silly.”

At the time, Gomez added that she’s “a fan of Kylie,” though she has since commented on fan-made TikToks shading Hailey, writing “I love you” to one fan who slammed the Rhode founder for being a “nepo baby” and a “mean girl.” On a resurfaced video of Hailey pretending to gag at the mention of Taylor Swift’s music, Gomez replied, “So sorry, my best friend is and continues to be one of the best in the game.”

However, Gomez later encouraged her followers to be more empathetic. “Please, please be kinder and consider others mental health,” Selena commented on one of her recent TikToks sharing her makeup routine. “My heart has been heavy and I only want good for everyone. All my love.”

Justin Timberlake & Jessica Biel Go on ‘Date Night’ at SZA’s SOS Concert

Justin Timberlake and Jessica Biel were two of many famous attendees at the Los Angeles stop on SZA‘s hit SOS Tour on Thursday night (March 23).

Via Instagram Stories, the “Can’t Stop the Feeling” crooner shared a snap of the couple’s tickets to the show at The Kia Forum, writing “Date night” and tagging SZA. The following day, Biel also re-shared one of her hubby’s Stories from the show on her own account, showing the pair happily dancing along to SZA’s performance with grins on their faces.

However, the couple weren’t the only famous faces in the crowd for the “Kill Bill” singer’s second night at The Forum. Avril Lavigne also attended the concert — a fact that positively bowled SZA over once she saw the pop-punk princess’ Instagram Story of herself singing SOS top 10 single “Nobody Gets Me” from a floating platform high above the stage.

“@sza i’m obsessed with this song,” Lavigne captioned the video, which SZA re-posted, writing, “Can’t believe THEE avril was at my show” with an emoji face on the verge of tears.

Other celebrities who flocked to SZA’s final two concerts of her tour this week — which featured surprise onstage cameos from both Phoebe Bridgers and Lizzo — also included the likes of Jennifer Lopez, Justin Bieber and Hailey Bieber, Olivia Rodrigo, Adele, Pedro Pascal, Tate McRae, Kim Kardashian and Neon Trees frontman Tyler Glenn.

Hours before her show on Wednesday (March 22), SZA also stripped down as the latest model for SKIMS’ “Fits Everybody” underwear campaign.

Check out Timberlake, Lavigne and SZA’s Instagram Stories from the final night of the SOS tour here, here and here before they disappear.

R. Kelly Victim Granted First Dibs to Singer’s Sony Music Royalty Funds in Court Ruling

An R. Kelly victim who won a $4 million judgment against the singer will get first crack at pulling money from the singer’s royalty account with Sony Music — after the Illinois Supreme Court ruled that her claims should take priority over a Chicago landlord that’s also owed millions.

In a decision on Thursday (March 23), the state high court said Heather Williams was entitled to tap into Kelly’s account with Sony — valued at $1.5 million in 2020 — before Midwest Commercial Funding, a property manager that won its own separate $3.5 million ruling against Kelly over unpaid rent at a Chicago studio, can access it.

Williams filed a civil lawsuit against Kelly in 2019, alleging that when she was 16 years old, the singer lured her into his studio with promises that she could be in a music video and then repeatedly had sex with her as a minor. In 2020, she won a judgment of $4 million against Kelly on those accusations.

Thursday’s decision upheld a lower court’s earlier ruling that Williams — and not Midwest Commercial — should be given priority access to the royalties because she was the first to properly demand the money from Sony. That earlier ruling had ordered Sony to hand over to Williams “any funds currently in Kelly’s royalty account,” and to keep giving her his royalties until the judgment was paid off.

Disbursement of Kelly’s funds held by Sony has been paused while litigation has played out; it’s unclear how much money is now in the account. The company is not named in any lawsuits and is not accused of any wrongdoing. A rep for Sony declined to comment on the ruling or on the status of Kelly’s royalties.

Following Thursday’s ruling, Kelly’s attorney, Jennifer Bonjean, tells Billboard that she’s currently seeking to overturn the underlying $4 million judgment. She says the award to Williams — a so-called default judgment, meaning it was issued after Kelly failed to respond — “never should have been entered.”

“I’ve never in my career seen such a flouting of the rules to deny him even the opportunity to defend these civil cases, even when the courts were fully aware that Kelly was incarcerated, unrepresented at points, and facing multiple criminal indictments,” Bonjean says. “Indeed, much of these civil proceedings occurred without Kelly’s knowledge.”

But the $4 million judgment was already upheld once by an appeals court, and Bonjean said she faces an “uphill battle” to overturn the judgment because of the actions of Kelly’s prior lawyers.

An attorney for Williams declined to comment on the litigation. An attorney for Midwest Commercial Funding did not return a request for comment.

Though Thursday’s decision gave priority to Williams over Midwest Commercial Funding, it’s unclear whether she’ll enjoy similar priority over a slew of additional monetary penalties that Kelly owes to victims as a result of his federal criminal convictions.

After he was sentenced last summer to 30 years in prison for sex trafficking and racketeering in New York, Kelly was ordered to pay more than $480,000 in fines and restitution; after he was sentenced in February on child pornography charges in Illinois, another $42,000 was tacked on. Last fall, prosecutors confiscated nearly $30,000 in Kelly’s prison account in an effort to start paying those penalties.

A representative for the U.S. Attorney’s Office in New York declined to comment on the impact of Thursday’s ruling or the status of federal restitution efforts against Kelly. A rep for the Us Attorney’s Office in Illinois did not immediately return a request for comment.

‘The Last of Us’ Takes No. 1 on Top TV Songs Chart With A-Ha Classic

A-ha’s “Take on Me” gives The Last of Us its first No. 1 on Billboard’s Top TV Songs chart, powered by Tunefind, reigning on the February 2023 ranking.

Rankings for the Top TV Songs chart are based on song and show data provided by Tunefind, and ranked using a formula blending that data with sales and streaming information tracked by Luminate during the corresponding period of February 2023.

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“Take on Me” was heard in the seventh episode of the HBO series’ first season, which aired Feb. 26.

It follows a pair of bows for the freshman show on the January 2023 survey: Linda Ronstadt’s “Long Long Time” at No. 5 and Depeche Mode’s “Never Let Me Down Again” (No. 7).

In February 2023, “Take on Me” earned 15.1 million official on-demand U.S. streams and 3,000 downloads, according to Luminate.

The song was a-ha’s top charter in the U.S., reaching No. 1 on the Billboard Hot 100 in October 1985.

It’s one of four songs from The Last of Us to reach the February 2023 tally. Agnes Obel’s “Fuel to Fire,” from episode five (Feb. 12), leads the group, hitting No. 5 (378,000 streams, 1,000 downloads).

The highest non-The Last of Us entry is TALK’s “Run Away to Mars,” which appears at No. 2. It was heard in the seventh episode of the 19th season of ABC’s long-running Grey’s Anatomy, which premiered Feb. 23.

In February 2023, “Mars” earned 5.3 million streams and 4,000 downloads. Concurrently, it could be heard on a variety of U.S. radio formats; it peaked at No. 1 on the Adult Alternative Airplay chart for three weeks beginning Jan. 28 and also reached No. 6 on Alternative Airplay.

See the full top 10, also featuring music from YOU and Shrinking, below.

Rank, Song, Artist, Show (Network)

  1. “Take on Me,” a-ha, The Last of Us (HBO)
  2. “Run Away To Mars,” TALK, Grey’s Anatomy (ABC)
  3. “Heads Will Roll,” Yeah Yeah Yeahs, YOU (Netflix)
  4. “I Would Die 4 U,” Holly Humberstone, Shrinking (Apple TV+)
  5. “Fuel to Fire,” Agnes Obel, The Last of Us (HBO)
  6. “True Faith,” Lotte Kestner, The Last of Us (HBO)
  7. “Alone and Forsaken,” Hank Williams, The Last of Us (HBO)
  8. “Killer,” Valerie Broussard, YOU (Netflix)
  9. “I Know the End,” Phoebe Bridgers, Shrinking (Apple TV+)
  10. “Dangerous,” Big Data feat. Joywave, YOU (Netflix)