HYBE formerly known as Big Hit Entertainment has merged with Ithaca Holdings
April 2, 2021 | 941 Visits
HYBE (formerly Big Hit Entertainment) has made it public that they are acquiring a 100 percent stake in Ithaca Holdings, which includes SB Projects and internationally successful artists like Justin Bieber, Ariana Grande and Demi Lovato.
Scooter Braun, the founder of SB Projects, is joining the board of HYBE and Scott Borchetta will remain the CEO of Big Machine Label Group.
HYBE also shared its plans to purchase an additional 950 million shares in Big Hit America for $9.5 billion US dollars to acquire an overseas label to accelerate its entrance into the global market.
HYBE’s chairman and CEO Bang Si-hyuk stated, “The inevitable joining of HYBE and Ithaca Holdings marks the start of a new adventure that no one could have possibly imagined. The two companies will work closely together leveraging our proven track records of success, know-how, and expertise to create synergy, transcend borders and break down cultural barriers. Please look forward to the endless possibilities of HYBE and Ithaca Holdings, and the new paradigm the partnership will establish in the music industry.”
Allison Kaye, the president of SB Projects said, “For 15 years, I have worked alongside Scooter helping him build a best-in-class entertainment company and phenomenal team of which we are both immensely proud. We have launched amazing careers and brands and released incredible content into the world. We are ecstatic to have this new opportunity to partner with Chairman Bang and Big Hit to further the global reach of both companies and the artists with whom we have the privilege of working as we continue to grow our company and their careers across entertainment, technology, commerce and content. Thank you to Scooter, Chairman Bang and everyone involved. We are beyond grateful for the opportunity.”
Founded in 2005, Big Hit Entertainment began as a small company in South Korea, was met with many challenges and failures until it made a name for itself when the Bangtan boys started gaining global fans in recent years. Due to the enormous success of the group, their creator and producer Bang Si-hyuk was able to pay off his immense amount of debt and currently receives recognition as a successful CEO and producer.
On June 18, 2022, former B.A.P leader and current rapper and producer Bang Yongguk will be holding a global fan meeting at 1am CST and 5am CST (15:00 and 19:00 KST). The event titled Bang Yongguk Global Fan Meet-Up: Bangstergram, which is... Read More
After setting the world on fire with their mega hits like “Butter,” “Fire,” “Boy in Luv,” and “Fake Love” among other tracks, BTS announced that they will be taking a group hiatus to focus on solo projects. On Tuesday June 14,... Read More
– MCND’s 4th mini album pre-released song, “W.A.T.1” teaser! A powerful performance that catches your eyes and ears + melody – Continuing on with the American tour in August, all seats in Europe are sold out! 9... Read More
As the excitement from her incredible, emotional 20th anniversary concert the previous day lingered, BoA released her 20th anniversary album ‘The Greatest’ on May 30 – just as she entered the 21st year since her debut in Japan. The... Read More
Japanese male-female dance-pop group lol recently released their new single, ‘Baby tonight’. This love song was written by group member Yusuke Sato, while his bandmate honoka was inspired by the lyrics to write the rap section. ‘Baby... Read More
This summer, BROOKLYN will hit the road on his ‘I’M GONNA LOVE YOU TOUR,’ performing in cities across the United States and Europe. BROOKLYN REVEALS U.S. DATES FOR SUMMER 2022 TOUR BROOKLYN will perform live in Houston,... Read More
The next-generation Japanese girl group FAKY released new single ‘Diamond Glitter’ on, May 25. This is the lead track from their forthcoming first full-length album, which is set for release on Wednesday, October 19. The new digital... Read More
‘WARPs DIG’, a new project from avex entertainment’s WARP-Syndicate collective, has launched on YouTube. ‘WARPs DIG’ teaser video: https://youtu.be/PqEjfqbbfMI WARP-Syndicate (commonly known as WARPs) stands for Wind Assemble... Read More
TRiDENT is formed by three members who have been called the, “next generation of a classic, girls rock band”. They will be digitally distributing their new song called “Spoopy”! This song is included in their 1st mini album “D-X”,... Read More
Told in a light but appealing dark voice and a concise yet rich sound, his story draws attention to ‘love’ and ‘survival’. The mini-album, consisting of a total of 4 songs, features the album and the new song... Read More
Leave a Reply