Big Hit Entertainment (Chairman Bang Si Hyuk) is expanding its label once again. It acquired shares of Pledis Entertainment (CEO Han Sung Soo).
On May 25, Big Hit Entertainment announced, “We recently completed a contract to acquire shared of Pledis Entertainment. We have become the largest shareholder. It was done as part of our corporate strategy.”
Big Hit Entertainment is steadily expanding its multi-labels and reorganizing its structure by business areas. It took over Source Music in July last year, Superb in August of the same year, and now Pledis Entertainment.
Pledis is an entertainment agency founded by Han Sung Soo back in 2007. It has produced Son Dam Bi, After School, and Orange Caramel. Now, the company includes NU’EST, SEVENTEEN, Nana, and BUMZU.
An official said, “BTS and TXT have now joined forces with NU’EST and SEVENTEEN. Now they have the lineup of nation’s top boy groups.”
The two companies have already worked together once. SEVENTEEN opened a community on Weverse, a global fan community platform run by Big Hit Entertainment’s subsidiary, in March.
Han Sung Soo said, “I’m glad to join hands with Big Hit, which is leading the Korean entertainment industry. It will be an opportunity for both Pledis artists and staff to take a leap forward.”
Bang Si Hyuk said, “I am happy to collaborate with CEO Han and Pledis’s creative organization. We will empathize with music, grow together and create great synergy.”