Big Hit becomes largest share holder in Pledis Entertainment, expands their multi-label system

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Big Hit Entertainment has officially acquired Pledis Entertainment after becoming the largest stock holders in the company. This is the latest step in Big Hit expanding their influence in the entertainment world after obtaining Source Music (GFRIEND) and Superb (a game company).

Because of this acquisition, SEVENTEEN and NU’EST, while still managed by Pledis Entertainment, are considered part of the new Big Hit Labels multi-label. Big Hit Labels now has one of the best male artist line-ups in the country, having the distributing rights to the global stars BTS, their younger brother group TXT, and now SEVENTEEN and NU’EST which both have extremely strong local and international fandoms.

It is expected that this acquisition will lead to a further expansion of Pledis artists’ IP thanks to the groups being able to make use of Big Hit Entertainment’s connections and expertise. Big Hit is considered to have one of the best creative line-ups in the K-pop industry after hiring Chief Brand Officer Min Heejin and now producer and Pledis CEO Han Sungsoo.

When asked about his thoughts on the acquisition, Han Sungsoo responded, “I’m happy to be working with Big Hit Entertainment, who is leading the entertainment industry. It is an opportunity for Pledis’s artists to take off and reach another level. Our expectations for the future combination of Pledis’s creative producers and all of Big Hit’s great points are high. We’ll repay fans’ support with better content and bigger success for our artists.”

Source: https://entertain.v.daum.net/v/20200525113947882

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