Big Hit Entertainment has officially responded to reports that it is acquiring Pledis Entertainment.

On January 13, Korean news outlet Sports DongA reported that—in a deal similar to its acquisition of Source Music last year—Big Hit Entertainment was in the process of acquiring Pledis Entertainment.

Later that morning, Big Hit Entertainment responded by simply stating, “Nothing has yet been decided.”

According to the report by Sports DongA, Pledis Entertainment will continue to operate as an independent label, just as Source Music has. If the two companies move forward with the acquisition, Pledis Entertainment is reportedly likely to move into Big Hit Entertainment’s new building, which Big Hit plans to begin using in May.

Stay tuned for further updates.

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