After rumors of acquisition, the deal was finally settled in.
Big Hit Entertainment, which is home to K-pop acts BTS and TXT, has now become the major shareholder of Pledis Entertainment, after previous reports regarding acquisition of the agency surfaced in January of this year.
Home to multiple K-pop acts such as SEVENTEEN and NU’EST, the acquisition by Big Hit is said to help the company strengthen its multi-label structure, which aims to establish a “top-tier boyband roster” in South Korea.
Pledis Entertainment, while being under the monetary support of Big Hit, will maintain its label’s independence, according to the company. Its artists will also utilize Big Hit’s global networks and market expertise in overseas markets.
It’s likely similar to an earlier deal made by Big Hit in acquiring Source Music in 2019, home of the girl group GFRIEND.
According to Big Hit, there’s also some upcoming boy and girl groups currently in the works. –HallyuLife.com
