Mamamoo's agency RBW Entertainment acquires Oh My Girl & B1A4's label WM Entertainment

WM Entertainment is home to Oh My Girl, B1A4, ONF, and IZ*ONE's Chaeyeon.
Mamamoo's agency RBW Entertainment acquires Oh My Girl & B1A4's label WM Entertainment
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A couple of days ago, BTS' agency Big Hit Entertainment, now known as HYBE corporation acquired Justin Bieber and Ariana Grande's label Ithaca Holdings, owned by Scooter Braun. BTS, SEVENTEEN, Justin Beiber, J Balvin and Demi Lovato expressed their happiness at joining hands with HYBE. CEO and Chairman Bang Shi Hyuk welcomed Justin Bieber, Ariana Grande, J Balvin and Demi Lovato in HYBE. But it seems like HYBE isn't the only one interested in an acquisition, Mamamoo's agency RBW Entertainment recently acquired WM Entertainment.

According to reports, Mamamoo's label RBW Entertainment will be merging with WM Entertainment, which is home to Oh My Girl, B1A4, ONF, and IZ*ONE's Chaeyeon. RBW recently bought shares from WM Entertainment's largest shareholder, and the trade was completed on March 31 KST. As of now, RBW owns over 70% of WM Entertainment's shares, acquiring the label as a subsidiary.

On the acquisition, RBW Entertainment's CEO Kim Jin Woo shared that WM Entertainment has been growing rapidly both domestically and abroad, and they plan to create new projects to contribute to the global Hallyu wave in the world. Meanwhile, Mamamoo's Hwasa renewed her contract with RBW Entertainment, while Wheein is still considering her renewal. RBW Entertainment stated that fans can be assured that Mamamoo will not be disbanding.

ALSO READ: MAMAMOO's Hwasa renews contract with RBW; Wheein still considering her contract renewal

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