[Official] Big Hit States "No Decision Made on Pledis Acquisition and Merger"

Bang Si-hyuk, CEO of Big Hit Entertainment / Photo by Yonhap News

[Asia Economy Intern Reporter Kim Seul-gi] Big Hit Entertainment (Big Hit), the agency of BTS, stated that there is "nothing decided" regarding the merger and acquisition rumors of Pledis Entertainment (Pledis).

On the 13th, a Big Hit representative told a media outlet regarding the Pledis M&A rumors, "We are open to various opportunities, but nothing has been decided about the inquiry."

Earlier that day, a media outlet reported, citing multiple entertainment insiders, that Big Hit recently decided to merge with Pledis and completed all procedures related to the transfer of shares.

In July, Big Hit acquired Source Music, the agency of the girl group GFriend. Currently, Source Music operates as a label, and the existing management team is independently leading the company.

At that time, Big Hit CEO Bang Si-hyuk said, "Big Hit and Source Music share similar philosophies in nurturing and managing artists, so we decided to join forces. Since we know each other well, we expect this acquisition to be successful. We are pleased that both companies can now draw a bigger picture together."

Following that, Big Hit recruited former SM Entertainment director Min Hee-jin as Chief Brand Officer (CBO) in July and is reportedly expanding its labels and restructuring its business divisions.

Meanwhile, Big Hit houses BTS and Tomorrow X Together (TXT), while Pledis includes NU'EST and Seventeen.