Big Hit Reportedly Merging With Source Music + In Talks To Acquire A 3rd Idol Agency

According to a brand new document, Big Hit Entertainment could also be within the strategy of merging with Source Music and some other idol company.

On July 29, Korean media outlet Newsen reported that in step with more than one business insiders, Big Hit Entertainment is recently transferring ahead with an M&A (mergers and acquisitions) care for Source Music, the company best-known for the well-known lady group GFRIEND.

An nameless business supply instructed the opening, “The Korean music industry has long been aware of the close relationship between Big Hit and Source Music. It seems that they have decided that it is now necessary to go beyond a simple partnership and actually merge the two companies in order to amplify their synergy.”

The supply endured, “I’ve heard that Source Music will be moving into Big Hit’s new building in Yongsan,” including, “They’re already at the point where they’re discussing which floors Source Music will occupy in the new building.”

Newsen additionally reported that Big Hit Entertainment is in talks to procure a 3rd, unnamed idol company. According to the opening, the company in query is house to a number of well-known idol teams.

A 2nd nameless supply mentioned, “It’s true that Big Hit and the agency in question are in the process of seriously discussing an M&A deal. Although we can’t disclose the details and conditions of their M&A deal, both sides are looking very favorably upon the proposal, to the extent that we expect results in the near future.”

Source (1)

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