Is BigHIt Entertainment going to be one of the biggest entertainment company in Korea?
Big Hit is planning to merge with Source Music, Company of Gfriend
On July 29th, it was reported that BigHit entertainment is planning mergers and acquisitions with two other entertainment companies.
BigHit entertainment started out as a small company with only one boy group, BTS, under its wing. BTS and BigHit were low in funds and far from public attention. But with BigHit's exceptional management, BTS grew into international superstars, and as they grew, BigHit also grew.
Well now, BigHit is taking the next step to becoming one of the most influential entertainment companies in South Korea.
BTS' management company is planning for mergers and acquisitions with Source Music, a prominent entertainment company in Korea that has Gfriend, a K-pop girl group with 6 members, under its management. But that's not all.
Another anonymous entertainment company is also planning for mergers and acquisitions with BigHit.
BigHit's pursuit for mergers and acquisitions with Source Music seems very plausible as one of the BIgHit's associates told the press that Source Music is currently planning to move into BigHit's Yongsan company building, and the two companies are discussing this new transition in thorough detail.
Information about the M&A with the other entertainment company is not fully revealed yet but Big Hit and the anonymous party are both positively discussing the possibility of a successful merger at this moment.
If this new business plan deems to be successful, BigHit will break the long-standing pattern of the 3 most influential entertainment companies, YG, SM, and JYP, dominating the entertainment biz.
By Yeonseung Kim and Bongbong email@example.com