Patrick Frater Asia Bureau ChiefBig Hit Entertainment, the management company behind K-pop sensation BTS, is to make its first significant acquisition since going public in mid-October.
It will inject $63 million (KRW70 billion) into YG Entertainment, the agency that is behind Blackpink, Treasure and recently-renewed brother and sister folk music act AKMU.BHE and its media arm beNX will invest KRW30 billion and KRW40 billion respectively in YG Plus, giving them a combined 17.9% stake in the YG affiliate that focuses on music distribution and merchandising.YG Plus is expected to help BHE with distribution and merchandize activities, while beNX will open its Weverse social media platform and Weverse Shop to YG Plus acts.
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