Apr 3, 2021

Big Hit Entertainment Buys Scooter Braun’s Ithaca Holdings Posted on 04/02/2021 HYBE (formerly Big Hit Entertainment) is the South Korean entertainment group whose artists include BTS. HYBE signed a deal to purchase 100% of Ithaca Holdings LLC, the music and entertainment firm founded and led by Scooter Braun for US$ 1.05 billion to shareholders and bondholders. HYBE is investing 1.07 trillion KRW into its U.S. unit to acquire Ithaca Holdings. Carlyle Group will sell its significant minority stake in Ithaca, which it has held since 2017. Ithaca Holdings owns SB Projects, which has management over clients such as Justin Bieber, Ariana Grande, and Demi Lovato, among others, as well as Big Machine Label Group. Big Hit Entertainment changed its name to HYBE. Big Hit Entertainment helped popularize K-pop. BTS was the first Asian act to be No. 1 on the U.S. music chart since 1963. Your Email: We'll deliver the most current and interesting sovereign wealth and financial news straight to your inbox © 2008-2021 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.