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CJ E&M Collaborates With BTS's Agency

CJ E&M is carrying forward a plan to establish a collaborated entertainment business with BTS's agency, Big Hit Entertainment.

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According to sources, CJ E&M and Big Hit have reported a business collaboration, Belief Entertainment, worth 7 billion won, and possessed of 52% and 48% in shares by the respective companies, to the Fair Trade Commission.

The joint venture will be launched later this month after discussing the details of the merger. When this happens, the two companies are reportedly planning to foster new artists and build a global audition program.

CJ E&M claims it's true that it's merging with Big Hit Entertainment, but there are still many procedures to go through.

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