About: http://data.cimple.eu/news-article/0c9061def62d42fff880b384935c948bbf7c91b5b0650ec048e7a516

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About: http://data.cimple.eu/news-article/0c9061def62d42fff880b384935c948bbf7c91b5b0650ec048e7a516 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	The agency behind K-pop phenomenon BTS announced a $1.05 billion deal Friday to buy the US firm that manages Justin Bieber, Ariana Grande and other major stars. HYBE, formerly known as Big Hit Entertainment, is investing 1.07 trillion won ($950 million) into its US unit to acquire Ithaca Holdings, headed by American media entrepreneur Scooter Braun. In a separate regulatory filing in Seoul, the company said its US unit will pay a total of $1.05 billion to bondholders and others for the merger. The South Korean firm will "acquire through its wholly owned subsidiary HYBE America, a 100 percent stake in Ithaca Holdings," it said in a statement. Braun will join the board of HYBE and artists of both entities -- including BTS, Bieber and Grande -- will participate in the capital increase of the South Korean company, it added. "This is an opportunity for us to make history and further innovate the music industry," Braun said of the merger. BTS have ascended to global superstardom since their debut in 2013, and their single "Dynamite" entered the Billboard Hot 100 at number one last year, making them the first South Korean act to top the US chart. In October, HYBE made a multi-billion-dollar stock market debut. The merger was to "accelerate its entrance into the global market", the company said in one of the regulatory filings. cdl/jfx
schema:headline	BTS agency to acquire Scooter Braun's Ithaca for $1.05 billion
schema:mentions	Billboard Hot 100 Ithaca Ariana Grande BTS Skytrain K-pop Seoul Stock market Justin Bieber Korean language United States Hybe Major Stars Scooter Barry La Compagnie des Lampes The Merger (The Office) Big Hit Entertainment
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-04-02 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	63 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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