logo

BTS' Label Company HYBE Buys Scooter Braun's Ithaca Holdings

author
Apr 07, 2021
01:00 P.M.
Share this pen
FacebookFacebookTwitterTwitterLinkedInLinkedInEmailEmail

Scooter Braun has been music news for buying Taylor Swift’s former label lately, and now he is selling. The successful talent manager’s Itacha Holdings will be in possession of South Korea’s HYBE soon.

Advertisement

The music industry is a wild and wonderful place filled with business deal after a business deal. Recently, Scooter Braun caught fire over his purchase of Big Machine, including Taylor Swift’s masters.

After 17 months of making his $300 million purchase, Braun received an estimated $1 billion offer for his media company. Take a look at how and when the deal with South Korea’s most prominent industry players happened.

Who Is HYBE?

Advertisement

HYBE is a South Korean entertainment company formally known as Big Hit Entertainment. The company is widely known for being the home to the megastar best-selling K Pop band BTS and officially rebranded in March.

Advertisement

HYBE Corporation will purchase Itacha Holdings through its United States subsidiary, HYBE America. The K Pop industry is known for its vigor in pushing out new globally recognized stars, which Braun touches on.

Advertisement

“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.”

Says Scooter Braun

HYBE has sufficient experience in training, managing, promoting, and developing global stars. There is no doubt that Itacha Holdings will be in good hands with their new owner, HYBE Corporations.

What Is The Deal?

Advertisement

Braun recently brought Taylor Swift’s former record company Big Hit Label for $300 million. After a few months of resale speculations, HYBE revealed the final sale deal, and it’s even more than we expected.

HYBE Corporation is due to own a 100% stake in Itacha Holdings, which cost them a cool $1 billion. The purchase includes SB Projects, management clients like Ariana Grande and Big Machine Label Group.

Getty Images

Getty Images

Advertisement

Scooter revealed that he felt the decision would help his U.S clients further their global careers. The deal also includes label services, management, publishing, and other services that HYBE and Itacha clients will benefit from.

How The Deal Will Work

Advertisement

Although HYBE Corporation has purchased a 100% stake in Itacha Holdings, Scooter will still be involved. Braun will join the HYBE Corporation board, and Scott Borchetta will stay as the CEO of Big Machine Label.

“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.”

Says Bang Si-Hyuk

Braun and HYBE chairman Bang Si-Hyuk address the deal as a partnership on which they’ll both work. As mentioned before, Scooter’s clients like Justin Bieber and Demi Lovato will continue growing HYBE.

Advertisement
Related posts

Lifestyle Tips To Help You Prioritize Your Health

March 24, 2022

Tips to Achieve A Beach Body Without Ever Stepping Foot In a Gym

March 24, 2022

logo

WomanlyLive participates in various affiliate marketing programs, which means we may get paid commissions on editorially chosen products purchased through our links to retailer sites.

Facebook
© 2023 AmoMama Media Limited