 So, what the heck is going on? So I'm sure you guys are following the news with Bang Si Hyuk and Big Hit Entertainment, and I know there's a ton of corporate jargon here in all the articles, so in case you're a bit confused, which I'm sure a few of you might be, I'll try to explain this as simply as I can. First off, Big Hit Entertainment, well actually it's not called Big Hit Entertainment anymore, because as of March 31st 2021, Bang Si Hyuk officially rebranded the company to Hybe. Now for those of you who are fans of the Big Hit name, and I know I was, fear not, because the Big Hit name is now being used exclusively by Hybe's new labels division as Big Hit Music, and with a fancy new logo. Now here's where it gets interesting, on April 2nd Big Hit America, which has now been renamed Hybe America, acquired 100% of Ithaca Holdings as well as all of its properties for a reported $1.05 billion. Ithaca Holdings is an investment company established by Scooter Braun, who's well known for being an important entrepreneur, investor, and manager. After the acquisition of Ithaca Holdings, it will become a subsidiary of Hybe America. Hitman Bang will remain the CEO and chairman of Hybe while Scooter Braun will join as a member of Hybe's board of directors, which means that he'll play a big part for major corporate decisions. And here's where most of the headlines are focused on, Scooter Braun projects, also known simply as SB projects, which is a subsidiary of Ithaca Holdings which was purchased by Hybe. Now SB projects is a talent management company that manages several big artists including Ariana Grande, Justin Bieber, Jay Balvin, Carly Rae Jepsen, Black Eyed Peas, Demi Lovato, David Guetta, Hilary Duff, and Dina Menzel, and, well, Psy, funny enough, so he's actually working for a K-pop company again. Among many, many others, and you can see a full list here. After the acquisition of Ithaca Holdings, Hybe issued $161 million worth of shares to some of its key people such as Scooter Braun who received 460,000 shares, Justin Bieber and Ariana Grande received 53,000 each, as well as around 30 other people. In comparison, each member of BTS was gifted 68,000 shares when the company first won public. Now, Hybe America, with its purchase of Ithaca Holdings, owns not only SB projects, but Big Machine Label Group. If you're a huge Taylor Swift fan, like I am, there's no doubt that you've heard of the beef between the country music label Big Machine Records and Taylor Swift. Long story short, Taylor Swift used to be signed on with Big Machine Records and due to a deal between Ithaca Holdings and Big Machine Records, Ithaca Holdings acquired rights to six of Taylor Swift's studio albums, rather than Taylor Swift herself, which allowed Ithaca to profit from her old songs. And with the recent acquisition of Ithaca, we can assume that Hybe would be profiting from it as well. Big Machine Records currently manages several artists such as Tim McGraw, Rascal Flats, Florida Georgia Line, and a ton of others. Hybe is making quite a global music empire with its other subsidiaries under Hybe labels, including Source Music, Pledis Entertainment, B-Lift Labs, KOZ Entertainment, and of course, Big Hit Music. Two other divisions of Hybe are Hybe platforms for technologies such as Weverse and Hybe Solutions, which includes specialized business units for video content, IP, learning, games, etc. such as Rhythm Live, Hybe 360, Hybe IP, and Hybe EDU. So that's basically it. That's all the information we have on the acquisition at the moment. Keep in mind that while Hybe America and Ithaca Holdings are under the same name as Hybe labels, they will not influence the decisions and create a freedom of Big Hit Music, BTS, TXT, Source Music, or other labels and Vice Versa. Personally, I've always wanted to see some type of collaboration between BTS and Justin Bieber. I mean, I really enjoyed the mistletoe cover by Jimin and Jungkook, but it'll be nice seeing a collab with the Biebs himself. Jungkook has always said that he's wanted to work with Justin, so I imagine this will be a good chance to make that dream a reality. It would be like some dream artist that you'd love to collaborate with. Now, what are your thoughts about the acquisition? What are you most excited to see in the near future from Hybe and its new subsidiaries? I really want to see your answers, so leave a comment below. Don't forget to leave a like and subscribe, and as always, thanks for watching.