Big Hit Entertainment has officially acquired Pledis Entertainment.

Despite denying reports that they had acquired Pledis Entertainment, Big Hit Labels is now the majority owner of Pledis Entertainment. This adds NU'EST and Seventeen to Big Hit Entertainment's already impressive boy group line up.

Pledis Entertainment's Han Sung Soo said, "We are happy to be together with Big Hit Entertainment, who is leading the Korean entertainment industry. It will be a step for Pledis artists and employees to step up another level. Pledis Entertainment's creative and Big Hit Entertainment's best points and we are looking forward to the future. We will give back to the fans with better content and bigger success for our artists."

Big Hit Entertainment's Bang Si Hyuk said, "We are glad more than anything to be with Han Sung Soo and Pledis Entertainment's creative industry. We will work together through music, grow together, and make a big synergy."