Meanwhile, one of the members in the practice room, a blond guy, was reporting to Vice President Kim Young-min that this was a crucial period in the power struggle between Lee Soo-man and Kim Young-min. Although Lee Soo-man had more supporters, Kim Young-min also had his own spies.
"President Kim, there's been some activity from President Lee's side. It seems that the foreign investor has arrived. Please come over quickly!"
Upon receiving the text message, Kim Young-min immediately stood up from half a kilometer away.
........
"Mr. Shen, Mr. Huang, please have a seat."
Lee Soo-man's secretary served the three of them three cups of coffee and then withdrew.
"Mr. Shen, what do you think of SM Entertainment?"
Shen Fangwei smiled slightly.
"Well, to put it simply, your company is a makeshift operation. The office space is too small, the details are not detailed enough, and you exploit your artists too much. You could say it has many flaws."
Lee Soo-man was about to respond to Shen Fang's words when Shen Fang interrupted him with what he said next.
"However, I'm quite optimistic about the artists that SM Entertainment recruits; they're quite interesting."
Lee Soo-man breathed a sigh of relief after hearing this. It was good that there were some satisfactory points, but could you please stop taking such long breaths, boss?!
Seeing the change in Lee Soo-man's expression, Shen Fang couldn't help but chuckle inwardly. It was just a little trick of first belittling and then praising. He was actually quite satisfied with Lee Soo-man.
"President Lee, let's get down to business. I want 35% of SM's shares for a flat price of 20 million US dollars!"
“35 percent of the shares???” Lee Soo-man stared at Shen Fang in shock.
He thought Shen Fang only wanted the shares he held, but little did he know that Shen Fang wanted controlling stake.
However, he was still very eager for the offer from the company. If SM Entertainment could have $20 million to develop the company, Lee Soo-man was confident that he could sweep away all the current media companies. However, he only had 13.5% of the shares.
Yes, the largest shareholder of SM Entertainment is not him, but Kakao Media.
Kakao Entertainment is a South Korean entertainment, mass media, and publishing company formed by the merger of KakaoPage and Kakao M. Through the merger, Kakao Entertainment will possess an unparalleled portfolio and value chain, comprising 50 subsidiaries and affiliates spanning all verticals of the entertainment industry. Kakao Page offers a dedicated value chain optimized for producing original content, along with a global platform network, while Kakao M provides expertise in creating music, dramas, films, and acting, as well as a combination of top creative talent in South Korea.
He is a South Korean media tycoon with significant influence across Asia, while Kakao's owner is Kim Bum-soo, a former South Korean richest man. He previously worked for Samsung Group and served as chairman of the Kakao Group. Kakao is essentially a front company promoted by Samsung.
However, Shen Fang's game involves acquisitions, and he doesn't get paid regardless of whether the acquisition is completed or not.
“Mr. Shen, I cannot make this decision. Moreover, even if you complete the acquisition, SM Entertainment will still need funds to operate. SM is now at a critical juncture.”
Shen Fang smiled, lit a cigarette, and gave Shen Kun a wink. Shen Kun then handed Lee Soo-man the information he had gathered about SM's shareholder structure.
"President Lee, I've already investigated this matter thoroughly. My reasons for wanting to take over SM Entertainment are twofold: first, I'm optimistic about your trainees; second, I value you as a person; and third, I'm interested in the way South Korea trains its idols. Help me contact Kakao's major shareholder. I want to buy SM's shares. After the acquisition, I will invest a large amount of money to develop SM Entertainment, and you will remain at the helm!"
No sooner had he finished speaking than the office door was flung open, and a middle-aged man with white hair, wearing gold-rimmed glasses and impeccably dressed, burst in. He was clearly overworked, hence his prematurely gray hair.
Lee Soo-man was furious when he saw Kim Young-min barge into his office without even a greeting, and he stood up in a rage!
"Damn it!!! Kim Young-min, what do you think you're doing?! Don't you have any manners?! Damn it!!! You ill-mannered brat!!!"
Kim Young-min sneered: "Lee Soo-man, stop pretending. You can't save SM. Only I can lead SM to glory!!!"
Jin Yingmin glanced at Shen Fang, Shen Kun, and Huang Bin, who were sitting calmly on the sofa.
"Excuse me, gentlemen, I have something to discuss with President Li."
Shen Fang raised his eyelids and stood up.
"President Li, it seems you still have things to do, so I'll take my leave now. Oh, and remember what I told you."
Lee Soo-man quickly and respectfully replied, "Mr. Chen! I will make the arrangements. I will host a banquet tonight, please be sure to attend!"
Shen Fang nodded and left the office with Shen Kun and Huang Bin.
Lee Soo-man's eyes flashed with a cold light. If looks could kill, he would have chopped Kim Young-min into pieces and fed him to the dogs right now!
Kim Young-min looked at Lee Soo-man without fear, a slight smile playing on his lips.
"Stop struggling, Lee Soo-man. President Kim has already agreed to support me. You should just stick to being a producer."
"SM will achieve great things under my leadership!!!"
Lee Soo-man sneered at Kim Young-min: "The outcome is still uncertain. Kim Young-min, if you dare to come again, I'll show you what cruelty truly means!!!"
After saying that, Lee Soo-man shoved aside Kim Young-min, who was standing in front of him barking like a dog.
......
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