(Update: Confirmed) Big Hit aquires Source Music, in discussion with another large agency

[goshipgurl.livejournal.com]

UPDATE:

[Breaking] Big Hit Entertainment acquires Source Music

Source Music will operate as a subsidiary under Big Hit, will still keep its existing management and color/stylehttps://t.co/CW1pUr6ISP pic.twitter.com/7Xw4CyL8Bs

— mes #TeamPinky (@OH_mes2) July 29, 2019

Big Hit Entertainment is reportedly deep in conversations with acquiring the agency of a top boy group, expected to be announced by 2020

They were also in talks of acquiring the agency of a popular trot singer, but no formal discussions yet on thathttps://t.co/upcni757nt pic.twitter.com/4xWFMVm3qD

— mes #TeamPinky (@OH_mes2) July 29, 2019

ORIGINAL POST:

Big Hit Entertainment is reportedly looking to prepare a merger amd acquisition of Source Music and a second large agency with several famous idol groups

It's also reported that Source Music has plans to move into the new Yongsan Big Hit building in 2020https://t.co/8Ql36sf3d9 pic.twitter.com/JrNtdR5xuS

— mes #TeamPinky (@OH_mes2) July 28, 2019

According to a new report, Big Hit Entertainment may be in the process of merging with Source Music and another idol agency.

On July 29, Korean media outlet Newsen reported that according to multiple industry insiders, Big Hit Entertainment is currently moving forward with an M&A (mergers and acquisitions) deal with Source Music, the agency best-known for the famous girl group GFRIEND.

An anonymous industry source told the outlet, “The Korean music industry has long been aware of the close relationship between Big Hit and Source Music. It seems that they have decided that it is now necessary to go beyond a simple partnership and actually merge the two companies in order to amplify their synergy.”

The source continued, “I’ve heard that Source Music will be moving into Big Hit’s new building in Yongsan,” adding, “They’re already at the point where they’re discussing which floors Source Music will occupy in the new building.”

Newsen also reported that Big Hit Entertainment is in talks to acquire a third, unnamed idol agency. According to the outlet, the agency in question is home to several famous idol groups.

A second anonymous source stated, “It’s true that Big Hit and the agency in question are in the process of seriously discussing an M&A deal. Although we can’t disclose the details and conditions of their M&A deal, both sides are looking very favorably upon the proposal, to the extent that we expect results in the near future.”

sources: @oh_mes2 1, 2, 3, naver , soompi, newsen, naver

Comments

[goshipgurl.livejournal.com]

I just hope that (if this ends up being true) Armys won't harass Gfriend for simply being in the same company as their oppas. You know some crazy fangirls are going to be jealous af

[dongsaengkiller.livejournal.com]

Everything I’ve seen on twitter has been overwhelmingly positive

[tsukarerudesu.livejournal.com]

are they on big 3 status ? like income/fame wise?

[goshipgurl.livejournal.com]

Their sales revenue last year was higher than JYPE's.

1. SM Entertainment - $532 Million (605 bn won)
2. YG Entertainment - $248 Million (284 bn won)
3. Big Hit Entertainment - $196 Million ( 224 bn won)
4. JYP Entertainment - $109 Million (125 bn won)

Keep in mind that this was before TXT's debut. BTS also outsold all artists from the big three combined in the first half of 2019, so their sales revenue this year will be even higher. I'm not sure if they'll be able to surpass SM, but with YG's recent downfall they are definitely on track to become the number 2 agency in Korea.

[byeolbyeol.livejournal.com]

the rumor i'm seeing circulating is that the other company is rbw.

[dongsaengkiller.livejournal.com]

Well damn!

[goshipgurl.livejournal.com]

It's confirmed! Thanks to whoever re-tweeted the post with the updated title haha!

[sheisagentleman.livejournal.com]

it’s what i deserve after being subjected to the wednesday song !!!!!!!

i hope they get cube for clc!

[sheisagentleman.livejournal.com]

oh shit cube has gidle & apink too ! NDNDNDNDN THE POWER

[lizanka23.livejournal.com]

i kind of want them to stick to buying up these smaller companies like Source Music that need more support rather than mid-tier companies like Pledis or Cube. Kind of like helping other companies that BH used to be like before BTS success. On the other hand, i wonder if this will have an effect creatively on the groups and might stifle them in some way to force the groups from the newly acquired companies to have one aesthetic and sound like YG does

[queenhinata.livejournal.com]

omg this is surprising but of all the companies, source makes the most sense.

I wonder what the third company is..hmm

also lol this reminds me of the army joke/conspiracy that bighit is housing female trainees at source. now imagine if bighit x source debuts a new girl group

[bubble-monkey9.livejournal.com]

tbh the only thing that concerns me when it comes to mergers/acquisitions is the little people who get affected. I hope Source gets to keep their staff because it'd suck if they get let off as a result of this.

[goshipgurl.livejournal.com]

Blackpink?

[dior-chic.livejournal.com]

They’re not big but I kinda wish they’d acquire Happyface because of Dreamcatcher, but also HF treats DC well so maybe not (also this is never going to happen, I’m just rambling)

[goshipgurl.livejournal.com]

HF is under Imagine Asia (also houses Dream T, MLD and YMC)

[mewgical.livejournal.com]

Doubt it would ever happen but I'd love to see them overtake Shofar. Bolbbalgan4 are such digital monsters but seem to get nowhere. No proper promo, no awards, nothing. It'd be interesting to see what BH could do for them.

[goshipgurl.livejournal.com]

So according to the newest update, they're in talks to acquire an agency with a top boy group. The only one that makes sense is seventeen, so... pledis?
But that would really suck for kaeun and the pristin girls that just left.

[ostsiberia.livejournal.com]

Good business decision by BH for diversifying their income. They plan to survive when the boys enlist.

[gigabytexx.livejournal.com]

There won't be anything new to this just like Woolim as a subsidiary of SM back then when Infinite was a hit

[dior-chic.livejournal.com]

Good point

[jackieee94.livejournal.com]

I remember seeing a PANN post about these rumors not too long ago. Many pointed out that Bts and Gfriend tend to stand next to each other at award shows like others do with their respective label mates. Someone tell Bighit to get Cube next.

[froggster.livejournal.com]

Hopefully this goes better than SM and Woollim, because that wasn't all that great for infinite. Their slow decline after that merger was suspect

[gathyou.livejournal.com]

I have many reasons to dislike SM and Infinite's gradual decline after the merger is definitively one of them. That was super shady

[gathyou.livejournal.com]

It absolutely makes sense, their companies have been close for a long time. SinB and Eunha are just coming back to their training agency.

I hope SoMu keeps the focus on GFriend. They have a stable fandom, good public recognition and a sound that keeps moving forward, they have so much more to offer (also I love them, I don't want them to decline). But SoMu also has female trainees apparently, so I can see the merger happening to debut a new girl group with SoMu managing and Big Hit giving ressources. Will the new group be more international/hip hop focused? GFriend are really centered around Korea and Japan.
Overall, I hope the girls (GFriend and trainees) don't get any hate for being labelmates to BTS/TXT now. So far reactions have been positive, but I don't trust fandoms with this

I wonder who the third agency is. I would have bet on RBW but it doesn't fit the "top boy group" rumors - they would be known as "a company with a top girl group". IDK. Let's see!

[oncloud999.livejournal.com]

Big Hit finally making their move... Would be interesting to see who else they acquire. It would be interesting if they acquire another big ish boy group because it'll be hard to compete. and they just debut their own. would be smarter to go for another girlgroup with more international appeal or some indie stuff.
i like that they're going the route of disney. not making up more of their own but just acquire more of other people.

[gathyou.livejournal.com]

GFriend joining Weverse was just announced on GFriend's youtube channel lol they're not wasting time!!

[jyusou.livejournal.com]

Dang that’s fast!

[myrrhcat.livejournal.com]

yeeehaaaw let's get another legendary collab like family song

[gathyou.livejournal.com]

I wish they would have waited until 07/31 to announce the merger

[swhyeon1991.livejournal.com]

Seems like I'm the only one who is thinking that it's Woollim? If it's indeed Woollim then this time is actually a good move imo unlike the 2013 merging mess.

[myrrhcat.livejournal.com]

woollim is already owned by sm

[xoxkenzxox.livejournal.com]

Hopefully this helps the budget. Source is doing well with Gfriend right now and Big Hit seems to be doing well with it's boy groups. Does this also mean Gfriend can take advatage of Big Hit's/BTS's american expansion?

[digitalqueen.livejournal.com]

omg sm doesnt own woollim, its 2019 and people are still going on with that? woollim merged with a subsidiary and woollims ceo had like 70% of the actions and gave interviews about how it was his idea and how happy he was about the merge. idk why he still gets passes for his bad decisions about the group during their peak? he sent them away on a world tour when their popularity was exploding and they didn't have a cb for a whole year and by then exo was already rising in kr and then they spent a ridiculous amount of money on the destiny mv and couldn't use it and by then it was too late to regain their popularity. but blaming sm is easier ig