Bighit Entertainment (Bang Si-hyuk CEO, Yoon Seok-joon) has acquired Source Music (CEO So Sung-jin), which is the agency of the GFRIEND Girls Group.
“We have recently finalized a contract to acquire a stake in Source Music which will be integrated as a subsidiary of Bighit.” Bighit Entertainment announced today, July 29th. “Source Music plans to keep its current management and preserve the color and independence of its label.”
Bighit Entertainment, which is seeking to extend its label and reorganize its structure by activity areas, strengthening its multi-label structure through this acquisition. In particular, Bighit Entertainment has already recruited, in a short time, in the category of girls’ groups, artists by hosting promising and high potential trainees, thus widening its spectrum of artists.
Source Music will be able to strengthen its content and upgrade its operations with the creative capabilities of Bighit Entertainment. Its artists should grow thanks to global know-how in networks and platforms.
“I’m pleased that Source Music is joining the Bighit Entertainment label,” said CEO So Sung-jin. “I think this is an opportunity in many ways for all our artists, trainees and members,” he said. “I think Bighit Entertainment’s ability to quickly create a global artist will provide a solid backdrop for Source Music, and with our organic relationship, we’re going to satisfy our fans with better content,” he said.
“The similar philosophy of” Bighit Entertainment “and” Source Music “is to encourage and manage artists,” said Bang Si Hyuk. “As we know, the West expects a successful acquisition and I am happy to announce a more comprehensive picture for both companies,” he said.
Source Music is an entertainment company created by CEO So Sung-jin in November 2009, and the GFRIEND girl group is currently active as an artist belonging to it.
Journalist : Shawn
Source : SNS BIGHIT Entertainment
