BMLG Chair/CEO Scott Borchetta is leaving the HYBE America-owned company, but has reacquired the Big Machine Records brand for future ventures. HYBE America retains assets, distribution and artists including Thomas Rhett, Brett Young, Midland, Justin Moore, Carly Pearce, Preston Cooper, Jackson Dean and Mae Estes, as well as publishing company Big Machine Music, and will operate under a new name with leadership to be announced "in the upcoming days."

"[Borchetta] recently approached us to ask for our support as he works to pursue a new, independent and entrepreneurial stage of his career, working to advance the Big Machine brand separately from HYBE," says HYBE America Chair/CEO Isaac Lee. "While we are sad to see Scott go, we understand – and want him to pursue his passions, and are grateful for all he did for the company." Lee says that HYBE America "will continue to support our artists’ interests across music, film, television, brands and culture in the U.S. market and beyond."

Borchetta adds, "Chairman Bang often talks of his fondness for entrepreneurs and he, Isaac, and the HYBE leadership team have extended that belief with this incredible showing of support by allowing me to continue to build upon my vision of the Big Machine Records brand. For that, I am forever grateful and wish them nothing but continued and incredible global success."

Borchetta launched Big Machine Records in 2005, selling it to Ithaca Holdings in 2019; HYBE assumed control in 2021 after purchasing BMLG from Ithaca.