Big Hit Entertainment is Now Pledis Entertainment's Largest Shareholder
Big Hit Entertainment has purchased Pledis Entertainment.
Big Hit officially confirmed on Monday, May 25, that the firm has now become Pledis Entertainment's major shareholder. Pledis Entertainment will become a Big Hit Entertainment's label but will continue to operate separately.
Pledis' producer Han Sung Soo would contribute to the strong roster of creative leaders in Big Hit, which was reinforced last year with the inclusion of CBO Min Hee-Jin. Pledis artists will receive technical and organizational aid from Big Hit and additional global services and relations.
Han Sung Soo said, "I'm pleased to be entering Big Hit, which leads the entertainment industry in Korea. This should give the Pledis artists and people involved a chance to take a leap further. I look forward to a future that will be built with a mixture of the abilities of Pledis innovation and Big Hit. We 're going to give everything to our artists with quality stuff for fans and better results."
Big Hit CEO, Bang Si Hyuk, commented, "More than anything else, I am pleased that we will operate with the innovative organization of CEO Han Sung Soo and Pledis. Big Hit and Pledis should develop together through music with a common understanding, shared trust, and build synergies in the potential."
Pledis Entertainment is currently the home of various successful artists, such as NU'EST, SEVENTEEN, Nana, Bumzu, Kyulkyung, Yehana, and Sungyeon.
On May 18, a source from The Fact published a story, referencing a connection between Big Hit Entertainment and the internal affairs of Pledis Entertainment.
The source said, "The major firms reached final merger talks and signed the agreement. What they have left to do is formalize the declaration."
The Fact has stated that another report also verified these details.
Leaks initially occurred in January from the purchase of Pledis Entertainment, and Big Hit Entertainment denied allegations at the time.
When it was revealed that Pledis Entertainment artist and SEVENTEEN would enter the Weverse fan community site acquired by the beNX Corporation of Big Hit Entertainment, assertions about a joint venture resurfaced.
Big Hit Entertainment's co-CEO, Lenzo Yoon, explained at a company seminar that the business will partner with plenty of acts from Korea and globally, who are not part of the Big Hit Labels, and that SEVENTEEN has been the first example of this.
Read Pledis Entertainment's verified statement below:
"Hello. This is Pledis Entertainment.
We would very much like to share that SEVENTEEN's Weverse network will be starting.
The global fan group of SEVENTEEN's "SEVENTEEN Weverse" is scheduled to begin in early 2020.
You will be able to communicate closely with SEVENTEEN and have a variety of features via 'SEVENTEEN Weverse.'
We will make additional information about establishing a date and other specifics.
We give our appreciation to CARATs and value your ongoing love for SEVENTEEN and encouragement.
Thank you very much."
