HYBE, Previously Big Hit Entertainment Merges with Ithaca Holdings

HYBE, previously Big Hit Entertainment, the home of the biggest boy group today, BTS, merges with Ithaca Holdings, the company which leads SB Projects.

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In the deal between the companies, HYBE shall procure through HYBE America, its entirely owned subsidiary 100 percent stake within the Ithaca Holdings along with its assets. It will include SB Projects and management clients Ariana Grande, Justin Bieber, and Demi Lovato; Big Machine Label Group joins in.

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What will Scooter Braun’s participation throughout the merging of these big companies? Braun will be among the board members of HYBE. Big Machine Label Group Scott Borchetta will remain as the CEO.

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The artists under the companies that merges shall share in the capital increase of HYBE, which will then additionally strengthen the business bond of the companies. Monetary terms were not revealed.