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.