The great K-Pop / Western consolidation continues, with the news that HYBE – the recently rebranded Big Hit Entertainment – is merging with Scooter Braun’s investment company Ithaca Holdings.
HYBE is acquiring a 100% stake in the company and its subsidiaries, according to Variety, with a rumoured price of more than $1bn.
The deal will bring HYBE’s stable of K-Pop acts (BTS included) under the same corporate umbrella as Justin Bieber, Demi Lovato and Big Machine Label Group. Let the clock begin ticking on an internet-breaking Bieber/BTS collab…
The news follows HYBE’s recent partnership with Universal Music Group to co-launch a new label in the US, with UMG also investing in VenewLive, the livestreaming joint venture between HYBE and Kiswe.