HYBE, the label behind K-pop group BTS, has acquired Scooter Braun's management and publishing company Ithica Holdings for $1 billion, the Wall Street Journal reports.
The companies under Ithica's wing include SB Projects, which sports a roster of major pop musicians including Ariana Grande, Justin Bieber, J Balvin, and more.
Ithica's country music sector Big Machine Label Group was also included in the sale.Bang Si-Hyuk, HYBE's chairman and CEO, issued a statement obtained by Pitchfork on the sale. “The inevitable joining of HYBE and Ithaca Holdings marks the start of a new adventure no one could have possibly imagined.
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