According to Pitchfork, HYBE, formerly known as Big Hit Entertainment, has purchased Scooter Braun’s label group Ithaca Holdings. Braun will become part of the executive board of HYBE, and several of the industry’s biggest artists will all be housed under the same label.
Braun currently represents major clients like Justin Bieber, Ariana Grande, Demi Lovato, J Balvin, Florida Georgia Line and many more.
HYBE currently represents the famed k-pop group BTS, as well as several other big names like SEVENTEEN, ZICO, GFRIEND, and more.
CEO of HYBE, Bang Si-Hyuk says, “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.” Si-Hyuk goes on to state, “Please look forward to the endless possibilities of HYBE and Ithaca Holdings, and the new paradigm the partnership will establish in the music industry.”
In 2019, Braun was called out by Taylor Swift for purchasing the rights to her masters, causing an internet feud on Instagram. Swift later took to Instagram again to express her frustration that she was unable to perform her older music at the American Music Awards because she states that Braun and CEO of Swift’s former label, Big Machine, Scott Borschetta prevented her from having the right to do so. Big Machine responded to Swift publicly, stating “At no point did we say Taylor could not perform on the AMAs or block her Netflix special. In fact, we do not have the right to keep her from performing live anywhere.”