Big Hit Entertainment To Acquire Source Music, House Of GFriend
On July 29, it was reported by Korean media, OSEN that Big Hit Entertainment will be acquiring Source Music, the house for K-Pop girl group, GFriend.
Big Hit Entertainment shared that recently the contract for the acquisition for Source Music was completed and will soon operate under Big Hit Entertainment as a subsidiary company.
With the acquisition of Source Music, Big Hit Entertainment can be pushing towards the image as a multi-label. Source Music will be making use of the creative capability and refined roles of the employees from Big Hit Entertainment to focus on coming up with a variety of content and upgrading of business management.
Thus, many are expecting the growth and development of the artists under the label especially with Big Hit Entertainment’s global network and platform know-hows.
Source Music’s CEO So SungJin shared that he is very happy to be merging with Big Hit Entertainment. He sees this as an opportunity for the artists and trainees under Source Music.
On the other hand, Big Hit Entertainment’s CEO Bang SiHyuk also revealed that since he has a close relationship with Source Music, he believed that it is already a success since the start of the acquisition.
Previously, Source Music was established under So SungJin back in November 2009.