Scooter Braun Sells Company to HYBE in $1 Billion Deal

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Chairman Bang is ballin'

. Braun is going to be joining the board of HYBE, while Scott Borchetta will still be the CEO of Big Machine.

"The inevitable joining of HYBE and Ithaca Holdings marks the start of a new adventure no one could have possibly imagined," HYBE Chairman & CEO Bang Si-Hyuk told."The two companies will work closely together leveraging our proven track records of success, know-how, and expertise to create synergy, transcend borders and break down cultural barriers.

The partners also said that the artists will also be benefiting from this, saying,"artists of both companies will participate in the capital increase of HYBE, to further strengthen the ties between the two companies." Though the specifics of the financial terms were not disclosed.

 

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'The inevitable joining of HYBE and Ithaca Holdings marks the start of a new adventure no one could have possibly imagined'... how is it both 'inevitable', and 'no one could have possibly imagined'...

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