Big Hit Entertainment has become the largest shareholder in Pledis Entertainment.
Pledis Entertainment becomes the latest agency to be acquired by Big Hit Entertainment, following Source Music and the game music company Superb.
Pledis Entertainment will maintain its independence as a label, similar to Source Music. The agency is home to several artists including NU'EST and SEVENTEEN, who will become part of Big Hit Labels alongside BTS, TXT and GFriend.
Pledis Entertainment CEO Han Seong Su said: "We are delighted to be with Big Hit, which is leading the Korean entertainment industry", noting that it's an opportunity for Pledis' artists to take a leap forward, and expressing his excitement for the future.
Big Hit's Bang Shi Hyuk also expressed his excitement for the future, with plans for greater synergy with multi-labels being created, as well as specialised business areas in the agency.
Rumours of the business move began earlier in 2020 when it was confirmed that SEVENTEEN would join fan community platform Weverse (they since have joined), which only hosts Big Hit Labels artists, during their 2020 corporate briefing.
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