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K-Pop Buzz: Big Hit Entertainment, Pledis Entertainment respond to merger negotiation reports

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Following months of speculations about Big Hit Entertainment’s alleged plans to acquire Pledis Entertainment, the two agencies have finally issued statements addressing the rumors.Earlier today, May 18, South Korean media outlet The Fact came out with a report citing a source who is supposedly well-acquainted with what’s going on inside the two entertainment companies.According to the source, the merger negotiation has officially been completed and that the two agencies are just waiting for the right time to make a statement.“The two companies have completed final negotiations for the merger and have signed a contract. All they have left to do is to make the official announcement,” the said source told The Fact.Likewise, another source confirmed to The Fact the same information. Then again, both Big Hit and Pledis dismissed the said information.“Various opportunities are open to us, but nothing has been decided,” the two agencies told Star News.Reports about Big Entertainment and Pledis Entertainment merger first came out in January 2020 but was later denied by the former.The merger issue re-emerged several times later including the one where SEVENTEEN joined Weverse — a fan community platform owned by Big Hit Entertainment’s subsidiary beNX.Big Entertainment’s roster of artists includes BTS and TXT while Pledis Entertainment’s artists are After School, NU’EST, and SEVENTEEN.

The two South Korean agency giants have once again addressed the long-standing rumor.