It's official. Hybe Entertainment is now the largest shareholder in SM Entertainment. Founder Lee Soo-man completed the sale of 14.8% of the company he founded to his rival. What started out as a family drama has turned into a corporate battle for global K-pop dominance. What is most at stake for the major players here? Are each of them acting rationally? And will Kakao Entertainment make a major countermove in the next few days?