BTS’ label HYBE joins hands with Ithaca Holdings, the company behind Justin Bieber and Ariana Grande

On April 2, HYBE released a press release officially announcing the merger of HYBE and Scooter Braun’s Ithaca Holdings. Here’s what you need to know about the acquisition.
BTS’ label HYBE joins hands with Ithaca Holdings, the company behind Justin Bieber and Ariana Grande
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HYBE, formerly known as Big Hit Entertainment, took a bold step to mark their presence in the US market today. According to HYBE's press release, HYBE has officially merged with Ithaca Holdings - along with its subsidiaries SB Projects and Big Machine Label Group. This news comes off as a completely unpredictable move from HYBE’s side. 

 

Home to the worldwide superstar boy band BTS, HYBE’s subsidiary HYBE America has acquired a 100% stake in Ithaca Holdings, home to the biggest names in the Western music industry. This comes after Big Hit Entertainment rebranded itself as HYBE to become a “music-based entertainment lifestyle company.” Ithaca Holdings along with its subsidiaries, handles artists such as Justin Bieber, Ariana Grande and Demi Lovato, among others. As a part of the deal, Scooter Braun will join the HYBE board and Carlyle Group, their previous investment giant, has exited. However, Scott Borchetta will remain the CEO of Big Machine Label Group, the former management company of Taylor Swift.

 

In the press release, Bang Si Hyuk, CEO and Chairman of HYBE said, “The inevitable joining of HYBE and Ithaca Holdings marks the start of a new adventure no one could have possibly imagined. The two companies will work closely together leveraging our proven track records of success, know-how, and expertise to create synergy, transcend borders and break down cultural barriers. Please look forward to the endless possibilities of HYBE and Ithaca Holdings, and the new paradigm the partnership will establish in the music industry.”

 

What this means is that it brings BTS, SEVENTEEN, TXT, ENHYPEN, Justin Bieber, Ariana Grande, Lady A and more under one giant roof! With the millions of loyal fans catering to just BTS and Justin Bieber alone, we can't fathom the amount of success HYBE will achieve after making this power move in the global music industry.

 

Also Read: ASTRO’s Cha Eun Woo to Bae Suzy & more: Korean celebrities who want to get married ASAP!

 

Can’t wait to see HYBE achieve greater success with this merger! What do you think about this? Let us know in the comments below!

Credits :News1

Anonymous 1 week ago

Well, you know, just fyi they are just coming under one label. Nobody owns nobody.

Anonymous 1 week ago

What a joke. Scooter braun had allegations to ruin people's careers and now he's there to ruin BTS. That's f'ed up. Honestly

Anonymous 1 week ago

Yes that was the thing I wanted to tell he had ruin Taylor Swift's career too and he always being opposite to BTS decisions

Anonymous 1 week ago

No. He's not ruining careers. Justin have 200 million dollars and on 2 on Spotify, so check your facts.

Anonymous 1 week ago

Can't wait to see their achievements

Anonymous 1 week ago

Can't believe? BTS owns a part of hype that means , all these celebs are owned by BTS

Anonymous 1 week ago

Justin bieber is top 12 on spotify and BTS is top 6 on spotify

Anonymous 1 week ago

No, they don't own these artist. They can't own artists whose net worth itself is over 200 million dollars.and for the fact Justin Bieber is top2 on Spotify.

Anonymous 1 week ago

Something big is on the way