In a bold expansion into the U.S. music landscape, South Korean entertainment company HYBE, formerly known as Big Hit Entertainment, aka the home of BTS, is acquiring Scooter Braun's Ithaca Holdings.
The merger will bring together the two companies' broad range of services, including management, label services and publishing, for an impressive roster of marquee global artists, such as K-pop super groups BTS,TXT and Seventeen, and U.S.
pop stars Justin Bieber, Ariana Grande and Demi Lovato, among others. Financial terms of the deal, which was jointly announced by the two companies Friday, were not disclosed.
HYBEwill handle the acquisition through its wholly owned stateside subsidiary HYBE America, buying 100 percent of Ithaca Holdings,.
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