Growth-type Super Rich-Chapter 461 - 292: Goryeo Entertainment Empire
The meeting room of S·M Company was already full of people.
Gu Bai sat at the head of the table with a bored expression, a pile of thick documents laid out in front of him.
Lee Soo-man and others were all engrossed in reading the documents before them, while Lee Boo-jin sat next to Gu Bai with a face of indifference and said nothing.
After a long while, the quiet meeting room was broken by Gu Bai’s voice.
"You are all senior executives from the original S·M Company, especially President Lee Soo-man, who is not only a company’s director but also the founder. In terms of understanding S·M Company, you are second to none. Now that the company’s equity has changed, as the largest shareholder of S·M, I have decided to serve as the chairman of the company. I wonder if any of you have objections? Feel free to speak."
Gu Bai leaned back in his chair, a gentle smile on his face as he looked at the people in front of him.
Hearing Gu Bai’s words, Lee Soo-man moved the equity change documents he had been reading halfway aside and said solemnly, "I have no objections."
Seeing this, Gu Bai nodded in satisfaction.
Lee Soo-man was a major shareholder, and it was impossible for him not to know about the equity changes. His expressing his opinion at this moment was already a show of loyalty on another level.
Previously, in order to develop better, S·M Company almost had entanglements of interest with various major chaebols in Korea, and there were no less than ten chaebols holding S·M Company shares. The equity was scattered. If it weren’t for Lee Soo-man turning S·M into Korea’s leading star-making factory over the years, with annual revenue growth, his position as president would have been taken away long ago. But even so, he still had to act subservient in front of the major directors of the company, a point evident from his attitude towards Ju Haosu at the time.
Now that Gu Bai reached 65% of S·M’s equity, just two percent short of absolute control, it was considered more of an advantage than disadvantage for Lee Soo-man. After all, it was always about showcasing the grandeur of Korea’s entertainment godfather, working for various chaebol groups behind the scenes. Now, it’s just a change of model, being a dog only for Gu Bai. What difference does it make for him?
If there really was a difference, it would be that as long as he clings to Gu Bai firmly, he wouldn’t need to pose humbly in the face of chaebol descendants like Ju Haosu in the future, because his boss is Gu Bai!
Given his current status in Korea, while not as prestigious as the Chaebol Clan, he is at least at the top level. Naturally, he knew about Ju Haosu’s death on the yacht. Although it was just speculation, Lee Soo-man also concluded that it couldn’t be unrelated to Gu Bai. Yet, the news of Ju Haosu’s death had spread throughout the Korean chaebol circles, and the LG Group and the Ju Clan still made no move, even selling their group’s shares to Gu Bai at a low price.
It was precisely because of this that Lee Soo-man decided to follow Gu Bai’s steps.
As for the other senior executives of S·M Company, although they held the title of director, their shares were pitifully small, not even adding up to 1%. Since even Lee Soo-man had no objections, how could they dare have an opinion?
"We have no objections."
The executives chimed in one after another.
Gu Bai’s expression didn’t change at all at this. The outcome was entirely within his expectations.
Gu Bai then nodded slightly and said calmly, "Then let me announce the first directive following the reorganization of the company’s equity."
Upon hearing this, everyone wore serious expressions as they looked at Gu Bai. The honeymoon is often short-lived for a new appointee, this was even more so since the entire company could now essentially be considered Gu Bai’s. Any decision by Gu Bai now concerned the interests of every person present, so they couldn’t help but pay attention.
Gu Bai tapped his finger lightly on the table and then slowly spoke.
"Besides S·M Company, I personally hold 71.8% of the shares of YG Entertainment Company. I’ve decided to use S·M Company as the operating entity and merge the two companies to establish a new company.
The merger between the two companies is already underway and is expected to be completed within two months, and will be fully handled by the current Vice President of S·M Company, Ms. Lee Boo-jin. You can direct any questions you might have to her."
Upon hearing Gu Bai’s words, Lee Boo-jin also nodded slightly towards everyone from her position.
Although she appeared calm on the outside, Lee Boo-jin was exceptionally excited inside.
S·M Company was Gu Bai’s private core industry in Korea, and now with Gu Bai entrusting it fully to her hands, it already conveyed a message to Lee Boo-jin: from today, you are a part of my core circle, Gu Bai.
Compared to the power that would come with the combined market value of two or three billion USD after the merger of the two companies, what Lee Boo-jin valued more was Gu Bai’s trust.
Having thought that after experiencing the shooting incident, Gu Bai’s opinion of her would have drastically worsened, even helping Gu Bai acquire the shares of S·M and YG Entertainment Companies would only count as a compensatory act. Yet now it seemed this wasn’t the case; Gu Bai still trusted her.
Contrary to Lee Boo-jin’s inner thoughts,
The S·M Company’s executives, led by Lee Soo-man, were immediately shocked to hear this news from Gu Bai.
S·M Company is already considered the leading company in the Korean entertainment industry. If it could merge with YG Entertainment, then the moniker of the Korean Big Three Entertainment Giants would no longer apply, and the title of the Goryeo Entertainment Empire would undoubtedly be bestowed upon S·M Company.
For a moment, everyone’s eyes were focused on Gu Bai.
