Scooter Braun Sells Media Company to BTS Label Owner

Ithaca Holdings has merged with HYBE to become a massive global entertainment company.

HYBE, the record company known for working with the famous K-Pop group BTS, announced a merger with Scooter Braun’s Ithaca Holdings, which manages many world-renowned artists, including Justin Bieber and Ariana Grande. In a deal of more than $1 billion, the HYBE company will become a massive entertainment company with well-established artists.

The deal will give artists access to a more global reach, accessing many different markets. It will not only help artists currently under contract to reach these markets but will also give newly signed artists initial access to the resources and skills of both companies. It will especially help the South Korean company to become more involved in the music industry in the U.S.