Recently, both Korean netizens and global online communities have been buzzing after reports revealed that HYBE spent $25 million USD to acquire a 51% stake in a mysterious company on August 1, 2024. The initial lack of details surrounding the acquisition fueled widespread speculation about HYBE’s future plans.
Follow-up reports soon identified the acquired company as The Agency Group PR LLC (TAG PR), a US-based public relations agency headquartered in Santa Monica. TAG PR has now become an official subsidiary under HYBE America, with the goal of “strengthening the public relations resources of HYBE America,” according to a HYBE spokesperson.
However, the acquisition has sparked concern among K-pop fans due to TAG PR’s controversial history. Melissa Nathan, one of the two managers of TAG PR and its President, represented Johnny Depp during his infamous 2022 defamation trial against Amber Heard. The highly publicized case resulted in Depp winning $15 million USD in damages, though it divided public opinion and led to accusations that Depp’s PR team deliberately tarnished Amber Heard’s image. Nathan’s client list also includes other controversial figures, such as Drake and YouTuber Logan Paul, further raising concerns.
Fans took to online forums to express their alarm, viewing HYBE’s acquisition of TAG PR as a troubling association with Nathan’s past involvement in controversial cases. The move has added to a growing list of HYBE-related controversies, including disputes involving top executives like Scooter Braun and Min HeeJin, and health crises affecting idols under the company’s management.
As HYBE branches into new sectors, fans and industry insiders alike are eager to see how this acquisition will shape the company’s future. While the speculation continues, HYBE’s next move is closely watched, with many curious about the role TAG PR will play in its global expansion strategy.
Source: KrB
