HYBE Merges With Braun’s Ithaca Holdings
As part of this historic international deal, HYBE, through its wholly owned subsidiary HYBE America, will acquire a 100% stake in Ithaca Holdings and its properties, which include SB Projects and Big Machine Label Group. Braun will join the board of HYBE and Scott Borchetta (center) will remain CEO of Big Machine Label Group. The deal brings together a range of services including management, label services and publishing for global artists BTS, TXT, SEVENTEEN, NU’EST, GFRIEND, ENHYPEN, ZICO, Justin Bieber, Ariana Grande, J Balvin, Demi Lovato, Tori Kelly, Thomas Rhett, Florida Georgia Line, Lady A and more.
Braun (right) remarked, “This will be the first time HYBE’s groundbreaking systems and curation will be integrated in the U.S. market at the onset of an artist’s career. Plus, it will help us to continue to further the careers of the artists we already work with. Global opportunities for artists become exponential with this partnership. This is an opportunity for us to make history and further innovate the music industry and revolutionize the game itself. Its implications for the business will be monumentous for a long time to come. I am incredibly grateful for Chairman Bang’s friendship and his willingness to support the creative journey of an artist.”
• As part of the transaction, The Carlyle Group will sell its significant minority stake in Ithaca Holdings, after initially investing in the company in 2017 by way of its Carlyle Partners VI fund.