[Concall] Com2uS "No Plans to Acquire Additional SM Shares"

[Asia Economy Reporter Seungjin Lee] Song Jae-jun, CEO of Com2uS, stated during the earnings conference call on the 10th, "There are currently no plans to acquire additional shares of SM Entertainment."

He added, "We have not yet reviewed whether to exercise voting rights at the upcoming SM shareholders' meeting in March," but also said, "However, if necessary in the future, we will seek decision-making in a direction that can maximize business synergies in areas such as Com2Verse, XPLA, and content, which are our business domains, to benefit shareholders," leaving open the possibility of exercising voting rights.

Last year, Com2uS acquired approximately 990,000 shares of SM, securing a 4.2% stake. On the same day, HYBE acquired a 14.8% stake from producer Lee Soo-man, becoming SM's largest shareholder. This move aligned with the producer, who has been embroiled in a management dispute. Some analysts interpreted Com2uS's purchase of shares last year as a move to act as a 'white knight' for the producer, but at the time, Com2uS strongly denied such speculation.