Big Hit Entertainment has acquired K-pop entertainment company Source Music, home to girl group GFriend.
Big Hit and Source Music have a long history together, having previously worked together in promoting girl group GLAM who debuted in 2012.
Big Hit Entertainment officially announced the merger today, stating that Source Music will become a part of Big Hit Entertainment, operating as a subsidiary with its current management. Bang Shi Hyuk commented: "Because the two companies know each other very well, I expect this acquisition will be successful. I'm delighted that both sides will now be able to paint an even bigger picture".
Big Hit Entertainment is yet to debut a girl group, and this merger has now sparked rumours that the company may be looking into changing that, as they acquire a company that has both a successful girl group and many female trainees.
Hear us on SBS PopAsia Digital Radio
Listen in 24/7 on Digital Radio, by downloading our free mobile app or by streaming live here on our website.
Download the app here: