The BTS company HYBE, formerly known as Big Hit Entertainment, is making massive money moves. The company has merged with Ithaca Holdings, led by Scooter Braun‘s SB Projects, for a deal valued at more than $1 billion, Variety reported Friday (April 2).
HYBE will acquire a 100% stake in Ithaca Holdings and its properties, including SB Projects and clients Justin Bieber, Ariana Grande and Demi Lovato, as well as Big Machine Label Group. Scooter will join the board of HYBE. Scott Borchetta will remain CEO of Big Machine Label Group.
Artists belonging to both companies will participate in the capital increase of HYBE, according to a press release. HYBE is now set to be one of the biggest entertainment companies with a music focus in the world.
Read more on justjared.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.