Display MoreI don't. My definitions
1. Subsidiary companies can't claim 'big' status. So Starship is not.
2. Neither can parent companies, just because they have M&A of Kpop agencies - so Kakao is not.
3. HYBE is a big, even though they reorganized and have idol groups under subsidiary labels, because HYBE's primary business and origin is Kpop idol music production.
4. CJ E&M is also not a 'big', for similar reasons to Kakao, not their history or primary business, no matter how many project groups they run or have subsidiaries.
The 'Big' term is a combination of size, primary business and history.
For Kakao, idol/music production is a tiny part of their holdings and revenues, whereas for the Big 4 - that is the primary business and majority of their revenues
Even if considering Kakao M, that is still true.
In any case, the "big" label might as well be retired, it will increasingly lose relevance with the boom of digital consumption and social media marketing.
The label mattered when influence with Broadcasting and Print media mattered a lot. That is a dead end now, just slowly reducing.
Curation will take different forms now.
So if CJ E&M does end up buying SM, then SM will stop being a top 4?
Negotiations fell apart, but there could always be more talks in the future.

