Big Hit Entertainment's acquisition of Pledis Entertainment has been officially approved by the Fair Trade Commission.
On October 18, FTC officially approved Big Hit's acquisition of Pledis and relayed that the merging of businesses would go on without a restriction on competition.
As competition would be crucial in building a strong foundation, the acquisition would result in a revitalization with reference to each company's related markets. Furthermore, both entertainment companies will continue to remain independent in terms of production, while artists contracted under Pledis Entertainment will receive more systematic business support from Big Hit's larger corporate body.
Back in May of 2020, Big Hit Entertainment began to take official measures to acquire Pledis Entertainment, becoming the company's biggest shareholder.