HYBE, Formerly Big Hit, Merges With Scooter Braun’s Ithaca Holdings, Bringing Together BTS, Justin Bieber, Big Machine (EXCLUSIVE)

HYBE, Formerly Big Hit Entertainment, Acquires Scooter Braun’s Ithaca Holdings Bringing Together BTS, Justin Bieber and Big Machine (EXCLUSIVE)

4/2/2021 10:52:00 AM

HYBE, Formerly Big Hit Entertainment, Acquires Scooter Braun’s Ithaca Holdings Bringing Together BTS, Justin Bieber and Big Machine (EXCLUSIVE)

HYBE, the company formerly known as Big Hit Entertainment, which is home to BTS, the South Korean pop group, has merged with Ithaca Holdings, the company led by SB Projects (SBP) founder Scooter Br…

, Ariana Grande and Demi Lovato, among others, as well as Big Machine Label Group.Braun will join the board of HYBE and Scott Borchetta will remain CEO of Big Machine Label Group. Artists of both companies will participate in the capital increase of HYBE to further strengthen the ties between the two companies, according to a release announcing the deal.

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In aligning the two entities, the newly combined HYBE is poised to be among the biggest entertainment companies with a music focus operating on a global scale. BTS and Bieber alone bringdedicated fanbasesnumbering in the hundreds of millions, while Ariana Grande recently surpassed 90 billion streams consumed worldwide, the most ever by a female artist — these accolades in addition to recent Grammy wins for Dan + Shay and Bieber for the song “10,000 Hours.”  In what has been an especially busy month for SBP, today (April 2) also marks the release of Demi Lovato’s latest album, “Dancing With the Devil: The Art of Starting Over.” It arrives on the heels of a

YouTube Originals docu-series.Said HYBE chairman and CEO Bang Si-Hyuk: “The inevitable joining of HYBE and Ithaca Holdings marks the start of a new adventure 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.” headtopics.com

Added Braun: “This will be the first time HYBE’s groundbreaking systems and curation will be integrated in the U.S. market at the onset of an artist’s career. Plus, it will help us to continue to further the careers of the artists we already work with. Global opportunities for artists become exponential with this partnership. This is an opportunity for us to make history and further innovate the music industry and revolutionize the game itself. Its implications for the business will be monumental for a long time to come. I am incredibly grateful for Chairman Bang’s friendship and his willingness to support the creative journey of an artist.”

The deal encompasses a range of services including management, label services and publishing for a combined roster that includes BTS, TXT, SEVENTEEN, among other HYBE acts, with Justin Bieber, Ariana Grande, J Balvin, Demi Lovato, Thomas Rhett, Florida Georgia Line, Lady A and more artists on the SB Projects and

Big Machine rosters.As part of the transaction, The Carlyle Group will sell off its minority stake in Ithaca Holdings. It had initially invested in the company in 2017 via its Carlyle Partners VI fund.“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,” said Allison Kaye, partner at Ithaca Holdings and president of SB Projects. “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.”

In a statement toVariety, SBP general manager Jen McDaniels added: “After many years working independently, I decided to join the SB projects family, not only because of my long standing relationships with Scooter and Allison or their success but for the commitment and dedication they’ve shown to their artists. I feel so fortunate that after three years with this company, we have found a partner across the world who shares those same values. This is such a unique and fortuitous joining of forces, I really cannot express how excited I am for what the future holds.” headtopics.com

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Big Hit’s name change to HYBEwas to be addressed at a general shareholders meeting on March 30. The impetus for the change reportedly stems from the Korea Exchange-listed company’s desire to position itself as a company that has expanded beyond mere artist management to realize its ambitions of becoming a more comprehensive lifestyle platform. Korean reports stated that Big Hit planned to branch out from music production, distribution, artist management, live performance management, internet tech and e-commerce to become more involved in areas such as travel, real estate, and other types of communications.

Founded in 2005, Big Hit started as an underdog firm in Korea’s pop music world, where three major talent management firms dominated K-pop. Its status changed, however, as its boy band BTS rocketed to stardom. Big Hit continues torely on the boy band for the majority of its revenue

.The company went public in October with a $820 million offering that was South Korea’s largest in three years. Despite the initial hype, its stock has roller-coastered dramatically since. After a surge at the trading debut, the shares sank through the last months of 2020, before staging a spectacular rally from late January 2021, reaching a new high point in mid-February. At KRW205,000 as of Thursday morning local time, the price is 52% above the IPO price of KRW135,000, and gives the company a market capitalization of KRW7.29 ($6.4 billion).

Read more: Variety »

ashleyippolito ASHLEY!!!!!!! it doesn't bring them together but sure Taylor won’t do no collab with bts ever then. Good. For simpler understanding Justin Hyung and Ariana noona 💀💀💀.. Lmaooo monicasahr Besttt I explained some more details about this in this thread: de olho 👀 El patrimonio sigue creciendo

Don’t worry yall Bighit/HYBE is just diversifying. They bought ithaca and paid off their debts but BigHit Music (which BTS is under) has become private. It doesn’t impact BTS artistic freedom at all. jimintoday__ I'm happy for ya'll, just be aware. This article rubs me the wrong way. Genius Hitman Bang and Hybe acquires IH and yet you have 🛴 as the picture. I cringed clicking on his picture. Put the Visionary Asian man on the cover as well and give him his props

Bang Pd wants JK to choose who he wants to collab with. So he bought the label.. they bought Justin Bieber oh that's HOT As long as HYBE can have the power to let go of TAYLOR's Masters. 😭👀 so basically what you're saying is that bts bought justin beiber. Bieber hyung 'This is an opportunity for us to make history and further innovate the music industry and revolutionize the game itself.' - Braun's words, however, first and foremost, break down racism and racial structures in the music and entertainment industries (RA up to lobbyists).

OMG.....Go for it 👏🏻👏🏻👍🏻 I really hope 🛴 doesn't go near BTS and do some silly stuff or take credit for their future achievements. Just the idea of him being friends with the boys is 🤮 I'm pretty sure BangPD knows what he's doing BTS Big Hit now is in control of Hybe, i think, so if they don't like the way Braun manage or behave Big Hit will be able to fired him!

This hot tho? Him being on the board means he gets a vote in big decisions. So yea it CAN impact BTS. THAT is beside the point. He’s a racist, sexist shady dude. Hope he doesn’t go around liking anti-Asian tweets again. Stop wasting BTS money oldwme ah pronto I hope like hell Scooter Braun will have nothing to do with BTS or other artist under Big Hit. He's toxic and he screwed over Taylor Swift and her Master Recordings, and he treated CL like shit.

The damn table has turned. Also, one band from South Korea did that. Get your facts straight not bestie. My shoulders are above my famn head Bighit making big moves with the money bts made for them Nossa, mais alguém pra não torcer ou comprar nada. Não gosto e nem torço pra nada q tenha envolvido Scooter Braun. Sim, sou radical total!

LMAO he was really losing money and going broke 😭 EL JEFE MÁS RESPETO rianatoolsie101 SarahRKGillies So no bts taylor crums anymore ... cool OMG my dream collab is so dreamy now more than ever. I'm crying, Please JKxJustin justinbieber BTS_twt scooterbraun 😭💜 Jungkook solo debut scooterbraun 기억하는 것 : BTS는 주로 HYBE의 경제적 힘을 담당합니다.

Ok make sure that when you rt or qrt, dont use the word merger. a merger and acquisition are two different things. very misleading hybe now owns 100% of bighit america and now bighit america is merging with ithaca holdings. nothing to do with bts xionsat I don't understand Y’all acting like this Gonna affect Justin lol Justin is under defjam please...scooter is just a manager! Justin has a whole team under defjam his label ..y’all be easy tho

this is so misleading wtf Yess it’s about time Yasss 와....대체 어디까지 보고있는거야 빅히트 이젠성장세가 무섭다 The article isn't correct. Bts aren't managed by bighit America but by bighit music, which is independent :) And all 7 BTS_twt members are major shareholders of HYBE. Jin could be in his way being voted to a board member in few years or its exec officer. Remember his dinner w BangPD?

not 🛴 plzzz As long bts have his own rights about their music and their freedom I'm OK. But that man is know for taking Taylor music.. Idk the entire story but it still panic me. The music industry of America, Hollywood and etc is corrupted. Shut up. Isn't that scooter guy the one with a lot of influence? Help us get some radio plays then✊

dolorrrr, pero se que los chicos son muy inteligentes y el porqué de cada decisión que tomen. Iam not satisfy actully and feel no trust My loves BTS, J Biebs and Demi 💜❤️🖤 ' justin Bieber 🌟 shared a moment with you ' bahahah I cannot Justin oppaaaa , Dul set annyeonhaseyo Justin Bieber imnida Wow Saw this on my tl, it explains it well!

I only read BTS and Justin Bieber. jujur bang PD tuh hebat bgtbgtbgtbgt!!!!😭🔥 😳🙄 ariana and justin in weverse? WOOOOOWWWWW😎 bishamonshinki tá comprando tudo gente Waaawwww So who owns Taylor’s masters? 🚀 scooter is a fucking clown if he sold ithaca woah What a misleading title Y PENSAR QUE TODO ESTO FUE GRACIAS A BTS Y BANG PD Y LOS TRABAJADORES QUE ESTUVIERON DESDE UN PRINCIPIO EN BIGHIT BTS ESTA CREANDO UN MONSTRUO DE EMPRESA Y CREO QUE VA POR MAS 😅😅😅 Disn3y? 😅😅😅

kooksclown Someone explain me this You should correct the first paragraph too. It isn’t a merger. It is an acquisition. This guy, the company and Justin is trash! Is BIGHIT serious? As long as the 🐍 🛴 keeps himself socially distant from BTS, I don't care. I'm here for them only!! STREAM FILM OUT ARMY!!! 💪🏻

JB on weverse too? 😂🤣 What!!!!! Remember BTS are under Big Hit Music which is completely independent from HYBE. Seriously 😳 damn Wow Scooter Braun needs to stay away from BTS music rights and we will be cool HYBEOFFICIALtwt BIGHIT_MUSIC apparently variety y’all don’t know the difference between a merger, acquisition, and business venture lmao bye 👋

We can Get BTS × JB collab soon 😳 hmm Bangswifties, should we say goodbye to the collab? 'Formerly bighit entertainment' 💔 Omg wtf 😮😮😮😮 Well done BigHit & now let's do another good thing & kindly give Taylor Swift her songs back. 🙌💜 if justin gets weverse i give up good night .... Okay HYBE, board of directors your first job is to get rid of Scooter Braun.

i dont care abt that scooter guy at all as long as my boys can make music freely without them interfering then im good. ive also read the whole thread and im quite satisfied w hybe's business technique into expanding their company. Omfg Why is this news became sentimental to me? A story of 'from rags to riches' . 💜💜💜

I have to read this article thoroughly but I legit thought this was an April Fool's joke crystalbell Is this a collaoration of ARITAN? April fool's prank ARMYFilmOutParty Great musician 💜 Is this a April fools prank ARI UNNIE JB OPPA COME TO WEVERSE so cool! check this out besties Keep him far away 😭 Who would have thought that a boyband from a small company would do wonders and make their CEO the most successful businessman, I mean they acquired 🛴 company, they were nobody and they're THE HYBE , THE BANG SI-HYUK AND THE BTS! Am I proud? Heck YASSS! 🥺😍💜🥂

What non so come reagire sinceramente YOOOOO Idk what to feel abt this 😦 ion like this weirdo arikook soon 🥳 Justin Bieber 🌟 Is this why BTS never signed under any American label? This is great. Establishing their presence in America with their own label. this is misleading, bighit music (which bts is under) is operating independently so meaning they cant touch bts nor interfere with their work. they are all just under hybe now

amyheathh holy shit Chocada com a dominação mundial Why I don’t like this !!!! I feel it will lose its originality HYPE WORLD DOMINATION 🤮🤮🤮🤮🤮🤮🤮 big machine...? seriously... Como?!!!!! Que significa ? No entiendo NattysTeddyBear This is HUGEEEEEEEEE They're really out here making me read and learn about stuff. Before, it's about literature or art, sometimes even about law. Now, I read about business management stuff. 🤧

Dul set Annyeonghaseyo Ariana grande imnida this is fucking unbelievable omg GO SI-HYUK Wtf Why do you hate them so? بيق هيت: في طريقي السيطرة على العالم Ben bu adamı sevmiyorum ya The Variety headline and article is misleading. This one explains it better: A- what now?! not changing anything related to BTS Gagooooo jhaquino_ urcryingshouldr

allah korusun Pretty sure he can't touch Bighit's shit but Scooter Braun is the ass that solid Taylor Swift's Master rights This title is misleading doyou_bangtan good thing that HYBE America acquire his company and NOT the other way around because this guy stole taylor swift's songs I don’t know how I feel about this 🤔

No but the headline is so sexc HYBE you powerful rich sob BTS under BH music not BH america get ur facts right this is misleading :)))))) I expect that if any American artists or Braun creates bad press for themselves, the media will now report some corporate connection between that scandal and BTS. Because they know mentioning BTS at all brings clicks. Wonderful.

wow What? This is a very smart move for better exposure and promotions in US bising ah A bit misleading. BTS are under BigHit Music and not HYBE America wich merges with Ithaca holdings. Correct me if I'm wrong but that doesn't 'bring the artists together' *formerly Big Hit Labels (?) Misleading .. LA LA LA

Went broke as soon as he sold Taylor's Masters 😂😂😂😂 before antis bark, bts are separated from them. if you don’t know sh¡t about business shut up BTS built a new world ARMYS STREAM FILM OUT I'm going back to sleep the best explaination so far Do more research Scooter stay away from BTS HYBE eating companies like Pac-Man ✨

amazing 👍👍👍 as long as its good for bts im okay Nooooo. Dont he dare to buy BTS songs. Dont he dare. 🥺 This is misleading. Y'all don't worry bts won't be affected by anything they're under bh music which works on it's own. Making alliances in the industry is all good. But why this ass out of all 😭 FOR REAL? wow

This is hugeeee 😮 Wellll, not exactly, maybe 'together' as in under a huge genius umbrella, but separate entities. who Sh1t os getting serious in the other side This article is misleading Başka şirket yoktu anasını satim delete this stupid ass headline ...i'll get my bangtan to SUIT UP, stupid comments,twts AND bad journalism will coming our way...*sigh*

_chiiiiin18 BTS is under BigHit Music which is a separate and independent entity from HYBE they have control over their own music , Kmedia announced that yesterday probably to avoid the confusion before this announcement All that aritan crumb we were hoping for is so close to happen Wow😍 100%? Wow Bighit world domination

I hope only good things will happen 🙃 I was hoping this was a prank Bueno , pueden estar bajo HYBE, pero BM es independiente doyou_bangtan What!! What does this mean!! Bro.. HWAT FYI BTS is under BigHit music. But as long as our “shareholders a.k.a bangtan boys” PROFITS, BANK ACCOUNTS is going up up up up up and bangpd will keep dancing on on on on and we get aritan collab I am all for it.

💀💀💀💀 Not scoot.... good luck bang, you just got caught up with an interesting mf Ya they r together in terms of management of artist rather than label artist cz hybe aquired 🛴's management agency not JB's label ..in kpop 1 company acts as managment n label where as in American music industry it's two diff company so i see why they said they r together

Omg both my faves BTS and Justin part of HYBE 🥺🤧💜 Omgh this is great💜 wait hybe is ithaca? This is disappointing. That POS should be bankrupt and living with his head in the sand. I don’t like this at all. You Broke My BangSwift Heart💔💔💔 HYBE is the one who ACQUIRED Scooter Braun’s company not the other way around lmao why some people here are disappointed?

jimintoday__ Nooooo! the title is very misleading. Very misleading namjoonsswiftie Are you seeing this funny😭 BigHit Music and BH America are indepent from each other. Check things out first Army. We can avoid such stress 😊🤍 Let us savor Film Out 🤗 do a better job in researching and deciding a headline that isn't misleading.

😭😭😭😭😭! Bets don't line up with anyone .. they have their own music, their own songs, and no one controls what they do. They decide that. so much artist coming on weverse i can't. it's going to be chaotic there for sure. weverseofficial provide password for every entrance on artist page pls lol [Ariana grande on weverse] Ariana grande 🌟 shared a moment with you OMG AHHAHAHAHAHHA 🙈👀

BTS is not lined up with anyone .. she has her own music her own songs No one can control what they are going to do. Wait what ? Omg armyliebers won even this happened their is only one person who the industry cant control and company thats JB because he can leave music and never goes back still he will be a prince

All I know is.. They are all under The Big Man, Hit Man Bang, Bang Shi yuk..🥰😘💜 How is this guy? is he clean and respected like Bang Si Hyuk? Why are you all so hyped about JB, he even revealed his collab with JK way ahead of JK. Bighit music, which holds BTS TXT and Lee Hyun is completely independent, any deals of hybe won't affect these artists.

People do anything for money nowadays.... Stream FilmOut :) 😭😭 😱 ko thể tin nổi, thật ngoạn mục👍🏻 Braun and Borchetta better stay away from my boys! jimintoday__ BTS have literally helped create an entire empire 💪🏽 doyou_bangtan Everyone chill this literally has nothing to do with BTS other than making them money. They're separate it will not affect them in any way other than positively. I certainly don't like 🛴 but it won't affect our boys

Your headline is misleading. For clarification and to avoid confusion, BTS aren't managed by BH america and are completely independent of HYBE. Thus, they will not be affiliated with Scooter Braun in any way. When I said BTS WORLD DOMINATION, I DID NOT think about this result SCOORAT and his broke ass lmao

NO, IT DOESN'T. I know you want clicks but armys are educated and we know how businesses work. doyou_bangtan How marvelous! phin yrr p sa pee :) This is a misleading article . This has got nothing to do with bts in the first place. I don’t understand Wait, whattt namuflex oh yea also this 😟 Hybe's new subsidiary looooolll🛴 working under bang pd and BTS I love to see it

What is this? Who is Scooter B Weeyy apalagi nih.. 😱👍👍 BTS keep winning (they're shareholders) This headline is completely misleading i feel sorry for bts because their name will now be associated with 🛴, yikes! 😬 Omg bighit/hybe?! family concert with Ariana grande🤪 To all those who are confused JBTS IS COMING

Que loco todo esto lpm 🛴🤢🤢🤢🤢🤮🤮🤮 For everybody in the comments, no there's no one being brought together, bighit america is different from bighit music (which handles bts) the caption is misleading The click bait thooo.. ariana, jb will be joining weverse then ? 😂 He will earn 20-30% from big hit 🗿🗿.... its disgusting all this money will fund new genocide

i don't get it, bts is under bighit music, not hybe, inshort independent idk how u connected the dots. Someone's broke! Let's celebrate that🥳🥳🥳 Still go now and stream ARMYFilmOutParty Can they not? doyou_bangtan Oh I don’t like this at all, wasn’t scooter Braun and big machine the ones who stole all T swift’s song rights... I seriously hope they will not let them touch any of The bighit artists

for baby words: Hybe is now the topnotch player, having under them Hybe America fka Ithaca and BigHit America, in short don't worry, BHM will still be BHM, same days, same ways, no change well is this fr? This man's face make want to throw up! I know business is business but I cant imagine this man having conversation with bts I hope it will not happen lol

this is for that kboo group they said they're going to release 🏃‍♀️ doyou_bangtan Someone please explain WHAT What? They’re GETTING BIGGER AND BIGGER!🙌🏻😱 Variety get your facts checked. This business move has nothing to do with BTS. They are a under a completely separate corporation under HYBE Ariana on weverse /j

guys no worries they own HIM, not the other way around 🤭 doyou_bangtan make your alliances and buy everything you can to keep your business, but ... don't forget that ARMY IS ONLY INTERESTED IN BTS 👌🏻 vantekch ariana no weverse Just don't disrespect our boys. And treat every artist under hybe label's right, we're good.

Why tf did they decide to associate their company with this corrupt, disgusting man.... 🤢 their greedine$$ is absolutely ridiculous ew wtf 🤮 Um wtf? Misleading headline because now everyone is thinking IH is Justin and Ariana’s music label. It’s not. Theyre both just managed by scooter who owns/owned IH . Theyre under completely separate labels .

BTS under bh 🙄🙄 So selling masters clearly didn’t bring in enough for him to sell whole company 😭 BTS aren't managed by bh america & are completely independent of HYBE.BTS is under BH Music which is a separate entity from HYBE they have control over their own music,BH Music is unlisted, meaning that whatever is happening in hybe doesn't involve the artists signed there

he was going broke so had to come up with something 😭😭