HYBE and Ithaca Holdings artists, BTS, SEVENTEEN, Demi Lovato, Justin Bieber, J Balvin and more celebrate the merger between the two companies!
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HYBE and Ithaca Holdings Celebrate Merger
On April 5 KST, HYBE Labels released a new video on their official Youtube channel to celebrate the merger between HYBE and Ithaca Holdings.
The merger was announced earlier this month by HYBE, revealing that the company's subsidiary, Big Hit America, had acquired Ithaca Holdings with 1.7 trillion won ($1.5 billion) worth of shares.
In the video published by HYBE Labels, the beginning showcases the organizational structure of HYBE, such as their music labels: Big Hit Music, BE:LIFT, Source Music, Pledis Entertainment and KOZ Entertainment.
For HYBE Solutions, the division consists of HYBE 360, which is in-charge of content production; HYBE IP for brand merchandise; HYBE Edu for education-related projects; and superb for gaming.
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In addition, HYBE Platform handles the technology division to connect and expand its services and contents. Weverse Company is under this division.
Under Ithaca Holdings there are SB Projects and Big Machine Label Group that houses artists such as Justin Bieber, Demi Lovato, J Balvin, Ariana Grande and more.
In the video, HYBE chairman and CEO Bang Si Hyuk welcomes Ithaca Holdings as a new member of HYBE. He shares a similarity between the two companies, which is how both companies began with nothing but a dream and grew into world-leading companies through their innovation and creativity. He hopes that with the merger of the two companies, it would transcend borders and break down cultural barriers.
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The chairman and CEO of Ithaca Holdings, Scooter Braun, also shares a message regarding the merger. He praises HYBE's track record and reveals that he had been a fan of the company for years and is looking forward to the integration of HYBE's systems and curation into Ithaca Holdings and its artists, and the U.S. market.
With the merger, they hope to make history and further innovate and revolutionize the global music industry.
Big Machine Label Group's president and CEO, Scott Borchetta, also celebrates the worldwide possibilities and historic moment with the merger that transcends genre, cultures and borders.
HYBE and Ithaca Holdings Artists Celebrate Merger with Messages
The video also included messages from HYBE and Ithaca Holdings' artists, such as BTS, SEVENTEEN, Justin Bieber, Demi Lovato, and J Balvin.
BTS shares that they are very happy to have artists that they cherish and love become part of the HYBE family, feeling as if they have become more connected and that the world is becoming smaller. With the merger, they think that there are no boundaries or limits in music.
Demi Lovato and J Balvin congratulates Bang Si Hyuk and Scooter Braun, and expects the merger will be on another level.
SEVENTEEN shares how it is an honor to be part of a historic moment that can make music become one beyond language, culture and country, and look forward to the future they will build together.
Congratulating the two CEOs, Justin Bieber is excited on working with different teams to step further into the global music scene.
Watch the full video here:
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Written by Robyn Joan
