Scooter Braun Sells Ithaca Holdings to HYBE, Formerly Known as Big Hit Entertainment

Scooter Braun has sold Ithaca Holdings, including Big Machine Label Group and SB Projects, to South Korean company HYBE, formerly known as Big Hit Entertainment.

Braun’s management company, SB Projects, represents talent including Justin Bieber, Ariana Grande, J Balvin and Demi Lovato and Big Machine Label Group owns most of Taylor Swift’s massive catalog.

In accordance with this deal, Braun will join the board of HYBE and Scott Borchetta will remain CEO of Big Machine Label Group.

In a statement to the media, HYBE said, “With Ithaca Holdings, HYBE sets an important stepping-stone in expanding into the global market and establishes a global top-tier multi-label structure. Ithaca Holdings’ market and industry expertise will expedite HYBE artists’ entry in the U.S. market and beyond and solidify HYBE’s competitiveness in the global market.” 

HYBE further stated, “[This] deal brings together a range of services including management, label services and publishing for global artists BTS, TXT, SEVENTEEN, NU’EST, GFRIEND, ENHYPEN, ZICO, Justin Bieber, Ariana Grande, J Balvin, Demi Lovato, Thomas Rhett, Florida Georgia Line, Lady A and more.”

In a statement made to the media, Braun stated, “Global opportunities for artists become exponential with this partnership. This is an opportunity for us to make history and further innovate the music industry and revolutionize the game itself. Its implications for the business will be monumentous for a long time to come. I am incredibly grateful for Chairman Bang’s friendship and his willingness to support the creative journey of an artist.”