Based on the official releases, it seems that BH was worried about Weverse competing with Universe so they made a deal with YG to get their artists (mostly BP, let's be real) onto Weverse. They probably also plan on combining Weverse and VLive somehow.
In return, YG gets a piece of BH's distribution and merchandise profits by having YGPlus handle some of that for BH.
They didn't explicitly say this, but this was clearly the subtext.
Money is powerful. Huh?