TOKYO -- Stock in Hybe, the company behind K-pop sensation BTS, has plunged as a feud with one of its powerhouse subsidiaries sows disharmony at the entertainment giant and signals a new risk to its ownership of several music labels.
Saga has wiped out 11% of the largest K-pop management agency's market value
K-pop giant Hybe is launching an internal audit into its Ador subsidiary, the creator of hugely popular act NewJeans. © Reuters
TOKYO -- Stock in Hybe, the company behind K-pop sensation BTS, has plunged as a feud with one of its powerhouse subsidiaries sows disharmony at the entertainment giant and signals a new risk to its ownership of several music labels.