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BTS’s Korean record label buys Justin Bieber management company

Ithaca, owned by Scooter Braun, also manages artists such as Ariana Grande and Demi Lovato

The Korean record label behind K-pop sensation BTS has agreed a $1bn (£725m) deal to buy the US company that manages Justin Bieber, Ariana Grande and Demi Lovato.

Hybe, BTS’s label, which was formerly known as Big Hit Entertainment, announced on Friday it was buying Ithaca, the holding company of the US impresario Scooter Braun.

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