Cube Entertainment's largest shareholder will becosmetics and media commerce company VT GMP.

On February 21, reports revealed VT GMP will become the new largest shareholder of entertainment agency Cube Entertainment, which houses idol groups like BTOB, Pentagon, and (G)I-DLE. The company is best known for its involvement in making BTS perfume, and it's reported the acquisition will enable cooperation between cosmetics manufacturing and entertainment businesses.

VT GMP is taking over stock shares from iHQ, who were formerly Cube's biggest shareholder, for the amount of 29.1 billion Won ($24,017,845.05 USD). This means the company will have a 30.61% stake in Cube Entertainment.

With news of the sale, Cube Entertainment stock rose by 11.19%.

Stay tuned for updates.