China Entertainment News www.yule.com.cn On the 26th, SM stated that on the 19th it acquired a 51% stake in STUDIO CLON through STUDIO KWANGYA, a subsidiary specializing in the production of metaverse content, to accelerate the pace of its own metaverse and 3.0 business.
It is reported that SM plans to cooperate with STUDIO KWANGYA and STUDIO CLON to expand the business in the field of virtual reality, virtual human, and Metaverse image. It is planned to archive SM’s IP and flexibly use it in an appropriate position to further strengthen the power of content and virtual IP, and bring differentiated entertainment experience to fans around the world.
Previously, SM had launched an acquisition war with HYBE. Although HYBE acquired the shares in Li Xiuman’s hands, it still failed to acquire SM as it wished, and SM completed the defense war. And after completing the defense battle, SM also confirmed that it will continue to open up the company’s territory.