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Posted by DTRT7,707 pts Sunday, July 28, 2019

BTS' Agency Big Hit Entertainment Acquires GFriend's Agency, Source Entertainment

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Big Hit Entertainment (CEO Bang Si-hyuk, Yoon Seok-joon, and Lee Ha-ha) has acquired Source Music (CEO So Sung-jin), which is the agency of girl group G-friend. On July 29, Big Hit announced that it will recently complete a contract to acquire a stake in Source Music and incorporate it into a subsidiary of Big Hit, adding that it plans to retain its existing management to maintain the color and independence of the label.


Big Hit, which is seeking to expand its label and reorganize its structure by business area, has strengthened its multi-label structure through this acquisition. In particular, Big Hit has already secured artists with fandom and high potential trainees in a short period of time in the girl group category, expanding its artist spectrum. 


Source Music will be able to strengthen its content and upgrade its corporate operations with the help of Big Hit's creative capabilities and granular support organization in the future, and its artists are expected to grow through Big Hit's global network and platform know-how. 


"I'm happy to have Source Music join the Big Hit label," said CEO So Sung-jin. "I think it's an opportunity in many ways for all of our artists, trainees, and members," he said. "In particular, the ability of Big Hit to quickly create a global artist is expected to provide a strong backdrop for Source Music. We will repay our fans with better content through our organic relationship with Big Hit," he said. "The similar philosophy of 'Big Hit' and 'Source Music' is to foster and manage artists," 


Bang said. "As we know the West, we expect the acquisition to be successful. I'm happy to be able to paint a bigger picture for both companies," he said.

  1. BTS
  2. GFriend (Girlfriend)
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Down2Earth682 pts Sunday, July 28, 2019 11
Sunday, July 28, 2019

Amazing, but no surprise, two companies were supposed to be together since the beginning. Congrats Army and Buddy. From now on Army and Buddy are brother and sister.

Now BH has Source Music and Source Music will have the resources from BH. What exactly is the BH's new CBO (the former SM board director) hired for? Isn't she supposed to prepare a subsidiary for new girl groups?
The next question is when BH is going to IPO.

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MidnightKpop700 pts Sunday, July 28, 2019 19
Sunday, July 28, 2019

Buddies should be really excited with this particular bit of news!

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