[Maeil Business Newspaper Shin Yeon-kyeong]
Big Hit Entertainment, the agency of the world-famous group BTS, has acquired Source Music. Furthermore, they are considering partnerships that can strategically create synergy with Big Hit.”
Big Hit Entertainment, said that “We recently completed a contract to acquire a stake of Source Music and will be incorporated into a subsidiary company of Big Hit. On the other hand Source, Music said that “We plan to retain its existing management and maintain the color and independence of its labels and operate them”
Big Hit is seeking to expand its label and reorganize its structure by business area, and through this acquisition, it has strengthened its multi-label structure
For about joining the label, So Sung-jin, CEO of Source Music, said, “I think it’s an opportunity to leap forward in many ways for all of our artists, trainees, and members. “I think the Big Hit’s ability to create a global artist quickly would be a strong background for Source Music.” “We will reward fans with better content through our organic relationship with Big Hit.” He added.
A Big Hit official told MK sports that “We push forward the expansion of labels to show its strengths when it meets our capabilities.
“We are not just focusing on the expansion of labels, but we are planning to proceed by reviewing the areas where synergy is possible.” In addition, the company said that nothing has been set regarding takeover with the agency of the boy group.
Meanwhile, Big Hit, an agency of BTS and TXT, is strategically considering a number of options.
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