HYBE, formerly Big Hit Entertainment, has merged with Scooter Braun’s Ithaca Holdings.

The media business Ithaca Holdings, owned by Scooter Braun, has amalgamated with HYBE, formerly known as Big Hit Entertainment.

HYBE announced on April 2 that Big Hit America, a subsidiary, is buying a whole 100% of Ithaca Holdings. A number of assets, including Scott Borchetta’s Big Machine Label Group and SB Projects (Scooter Braun Projects), are part of the deal.

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Scott Borchetta is going to stay on as CEO of Big Machine Label Group, while Scooter Braun joins the board of directors of HYBE. Their collaborative relationship will be further enhanced as a result of Ithaca Holdings executives and artists taking part in HYBE’s capital expansion.

The chairman of HYBE’s board of directors, Bang Si Hyuk, said, “No one could have predicted the unexpected challenge that this relationship with Ithaca Holdings presents. Based on the successes and experience that both of our businesses have amassed over the years, in addition to our knowledge, we will create a powerful synergy through close cooperation that transcends national boundaries and cultural differences”.

CEO of Ithaca Holdings Scooter Braun went on, “With this agreement, HYBE’s cutting-edge systems and curating skills will be applied to the beginnings of artists’ careers in the United States. Furthermore, it will be extremely beneficial for the professional advancement of present artists as well as for numerous artists to get a variety of prospects in the international market.

Along with Justin Bieber, Ariana Grande, J Balvin, Demi Lovato, Thomas Rhett, Florida Georgia Line, Lady A, and other artists, the artist roster for this cooperation includes BTS, TXT, SEVENTEEN, NU’EST, Gfriend, Zico, ENHYPEN, and more. Thanks to Ithaca Holdings’ experience in the US industry, HYBE hopes to expedite the entry of its artists into the US market through this merger.

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