HYBE (formerly Big Hit) acquired the label that managed Justin Bieber, Ariana Grande for 1 trillion KRW

HYBE, the company known as Big Hit Entertainment which is home to BTS, the South Korean pop group, has merged with Ithaca Holdings, the company led by SB Projects founder Scooter Braun. In the deal, HYBE will acquire through its HYBE America, its wholly owned subsidiary, a 100% stake in Ithaca Holdings and its properties, which includes SB Projects, whose management clients include Justin Bieber, Ariana Grande and Demi Lovato, among others, as well as Big Machine Label Group.

Braun will join the board of HYBE and Scott Borchetta will remain CEO of Big Machine Label Group. Artists of both companies will participate in the capital increase of HYBE, to further strengthen the ties between the two companies, according to a release announcing the deal. cr

original post: theqoo

1. Wow, I will buy HYBE stock

2. What is happening?

3. Wow crazy

4. They made f*cking lots of money thanks to BTS

5. So now Justin Bieber and Ariana Grande are in the same company as BTS? ㅋㅋㅋㅋ

6. I’m really curious about how much money they have made thanks to BTS

7. What do you mean? Has BTS’s agency acquired Justin Bieber’s agency?

8. Big Hit is crazy, it’s getting bigger

9. Daebak

10. Well, how much money did Big Hit make thanks to BTS?

Categories: Theqoo