Reports of Big Hit Entertainment’s Pledis M&A and Denial Saying “Nothing Has Been Decided”

According to multiple entertainment industry sources on the 12th, Big Hit has recently decided to acquire Pledis and has completed all procedures related to the share transfer. Pledis is a company founded in July 2010 by CEO Han Sung-soo, who previously worked as a manager for singer BoA at SM Entertainment. The company has produced singer Son Dam-bi, girl group After School, as well as NU’EST and SEVENTEEN.

The two companies are expected to officially announce the details soon. However, the size of the shares subject to transfer has not been disclosed as of this date. Similar to how Big Hit previously acquired Source Music, Pledis will continue to operate independently as a label under its existing management. Pledis is also expected to move into Big Hit’s new headquarters in Yongsan, Seoul, when the company relocates and expands in May.

An industry source said, “By joining hands, the two companies are expected to generate even stronger synergy going forward,” adding, “In particular, based on the know-how of both companies, this will open opportunities for systematic artist development and content enhancement, as well as building a solid global network.”