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BTS company Hybe looks onward, upward with Ithaca merger

BTS company Hybe looks onward, upward with Ithaca merger Posted : 2021-04-06 16:08 Updated : 2021-04-06 17:04 In this Jan. 26, 2020, file photo, South Korean K-pop band BTS arrives for the 62nd annual Grammy Awards in Los Angeles. AP Hybe, the K-pop powerhouse behind BTS, is set to cement its footing here and accelerate its overseas push with a billion-dollar deal to buy Scooter Braun s Ithaca Holdings. In a surprise move, Hybe on Friday announced a plan to acquire a 100 percent stake in the U.S. media group in a US$1.05 billion deal that would bring together some of the world s biggest pop musicians ― BTS, Justin Bieber and Ariana Grande to name a few.

Hybe: Analysts positive outlooks on BTS company s merge with Justin Bieber s agency Ithaca Holdings

Hybe is gearing up to take the world by acquiring the American company Ithaca Holdings. Many business analysts say this is also a move to diversify and lessen the company’s dependence on BTS, Hybe’s main source of income. As per Korea Joongang Daily, 85% of the company’s revenue is generated from BTS, and this percentage already decreased since it acquired Pledis Entertainment. Still, everyone can see the seven-member group remained Hybe’s top-earner, and prior to having other groups in the company, the percentage was originally 97%. Market reviews from analysts Now, after the announcement of Hybe’s acquisition of Scooter Braun’s Ithaca Holdings, there was a mixed review from the market, but most were on a positive note. Firstly, many analysts said that the buyout would show good results over the longer term.

BTS, Justin Bieber, and More Celebrate HYBE Merging With Ithaca Holdings

BTS, Justin Bieber, and More Celebrate HYBE Merging With Ithaca Holdings
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