A new report revealed how Scooter Braun‘s roster of artists will be benefiting from the deal that he just made with BTS‘ management company.
Scooter‘s Ithaca Holdings company just merged with BTS‘ management HYBE and his client list will become shareholders in the company.
Variety reports that 863,209 new shares in the company were issued and they are valued at $186 a share, which gives a total value of $160.5 million.
$50 million from the purchase price is been divvied up among some of Scooter‘s clients and his longtime employees. They include Justin Bieber, Ariana Grande, J Balvin, Demi Lovato, and more.
A filing related to the deal reads, “Scooter Braun, the largest shareholder of Ithaca Holdings, LLC, and Scott Borchetta, the major shareholder, share 25% of the trading proceeds received, while major artists and executives and employees (39) such as Justin Bieber and Ariana Grande receive their Bonus Shares. We plan to participate in the paid-in capital increase allocated to HYBE for 100% of HYBE’s (one year protection deposit), and we expect that we will be more active as a shareholder in the future.”
Click inside to find out how much money each artist is getting… More Here! »