HYBE has reportedly begun pursuing the acquisition of HLL中央, a prominent Korean awards ceremony operator. If the acquisition goes ahead, the same group could be responsible for operating the Golden Disc Awards and the Baeksang Arts Awards, as the sale process advances against a backdrop of worsening liquidity.
HYBE and Shinsegae Group have reportedly begun pursuing the acquisition of HLL中央, which is part of JoongAng Group. Negotiations with HLL中央 are advancing among multiple potential buyers, and the seller is reportedly moving to select a preferred negotiating party. The expected acquisition price is approximately KRW 50 billion (approximately JPY 6 billion).
HLL中央 operates leading Korean fashion magazines and YouTube content, and also holds management control of the entertainment agency SUBLIME. The aspect of the report attracting particular attention is the company’s involvement in organizing and operating the Golden Disc Awards and the Baeksang Arts Awards.
If HYBE acquires HLL中央, music awards for which HYBE artists are nominees would be handled within the framework of awards operated by the same group, potentially raising conflicts of interest. Although the awards are reportedly judged using objective data and reviews, some observers take a cautious view of the expansion of HYBE’s influence.
The acquisition has not yet been decided. In addition to HYBE, there are multiple potential buyers, including Shinsegae Group, and the sale is being considered carefully against the backdrop of HLL中央’s corporate rehabilitation proceedings. How to ensure the fairness and independence of the awards ceremonies is expected to be a key issue.