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Ariana Grande, Justin Bieber, J Balvin to See Big Paydays From Scooter Braun Mega Deal
A commitment of $50 million was divvied up between SB Projects acts and longtime staffers.
Shirley Halperin, provided by
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In the merger between BTS’ label HYBE and Scooter Braun’s Ithaca Holdings, Braun’s SB Projects (SBP) roster of clients among them Justin Bieber, Ariana Grande, J Balvin and Demi Lovato are set to become significant shareholders in a capital increase meant to fortify the bond between both companies, according to a Korean regulatory filing.
A total of 863,209 new shares were issued, at $186 a share, for a total value of $160.5 million. Of those shares, 462,380 were allocated to Braun himself, and 166,537 were allocated to Scott Borchetta, CEO of Big Machine Label Group, which Ithaca acquired in 2018. A commitment of $50 million from the purchase price was also divvied up to acts and employees who have been with Scooter Braun since he started SBP