A Seoul court granted a request by the group's agency, ADOR, to prevent members from performing without prior approval. A second hearing is scheduled for Thursday (June 5).
The K-pop company's stock declined 6.8% for the week ended May 30 as the 20-company Billboard Global Music Index was unchanged.
Tencent Music becomes the second-largest shareholder in SME, after Kakao.
The project is HYBE's first artist development venture of this scale focused entirely on Latin talent and featuring marquee mentors and coaches.
Here is a round-up of Universal Music Group, Spotify, HYBE and other music companies' earnings results for the quarter ending March 31, 2025.
Universal Music Group, Spotify, Live Nation and Deezer also posted gains following their quarterly earnings reports.
Strong concerts and merchandise revenue helped the company overcome a slow period for recorded music revenue.
Other deals this round: ATC Group acquires a majority stake in Easy Life Entertainment, Triple 8 Management partners with AI company Sureel and more.
The project will put the group's chosen members through HYBE's famed training model before introducing them via a scripted series.
Korean companies fared well even as the 20-company Billboard Global Music Index fell 2.9% due mainly to declines by Spotify, Warner Music Group and CTS Eventim.
