Scooter Braun has merged his company with HYBE.
The 39-year-old music manager for artists including Ariana Grande, Justin Bieber, J Balvin and Demi Lovato has merged his Ithaca Holdings with HYBE, formerly Big Hit Entertainment, the home of international superstars BTS.
This merger will give HYBE a 100 per cent stake in Ithaca Holdings and its properties such as SB Projects and Big Machine Label Group, with Braun joining the board of HYBE.
HYBE Chairman & CEO Bang Si -Hyuk told Variety: The inevitable joining of HYBE and Ithaca Holdings marks the start of a new adventure no one could have possibly imagined. 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. Please look forward to the endless possibilities of HYBE and Ithaca Holdings, and the new paradigm the partnership will establish in the music industry.”
Braun added: "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. Plus, it will help us to continue to further the careers of the artists we already work with. Global opportunities for artists become exponential with this partnership. This is an opportunity for us to make history and further innovate the music industry and revolutionise the game itself. Its implications for the business will be monumentous for a long time to come. I am incredibly grateful for Chairman Bang’s friendship and his willingness to support the creative journey of an artist.”
This article originally ran on celebretainment.com.