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South Korean music company Hybe acquired hip-hop label Quality Control (QC Media Holdings) in a reported deal worth approximately 300 million in cash and stock, according to the Hollywood Reporter.
Hybe America is led by executive and talent manager Scooter Braun, and according to a filing with Korean regulators, the company is paying a 250 million purchase price for QC, and issuing 50 million in new stock to QC’s founders Kevin “Coach K” Lee and Pierre “P” Thomas. The Atlanta-based label’s roster includes Migos, Lil Baby, City Girls and Lil Yachty,...
Hybe America is led by executive and talent manager Scooter Braun, and according to a filing with Korean regulators, the company is paying a 250 million purchase price for QC, and issuing 50 million in new stock to QC’s founders Kevin “Coach K” Lee and Pierre “P” Thomas. The Atlanta-based label’s roster includes Migos, Lil Baby, City Girls and Lil Yachty,...
- 2/9/2023
- by Charisma Madarang
- Rollingstone.com
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South Korean music giant Hybe has acquired Atlanta-based QC Media Holdings, the parent company of influential hip-hop label Quality Control Music, home to Migos, Lil Yachty and Lil Baby.
According to a filing with Korean regulators, the deal is worth approximately 300 million, with Hybe paying a 250 million purchase price for QC, and issuing 50 million in new stock to QC’s founders Kevin “Coach K” Lee and Pierre “P” Thomas.
Established in 2005, and known as Big Hit Entertainment until 2021, Hybe is a multinational music talent agency, label, promoter, event management and production company. The company is home to K-pop phenomena BTS, Tomorrow X Together and Lee Hyun.
The deal comes as Hybe increasingly looks beyond K-pop and the Asian market for growth and is the first big acquisition under Hybe America CEO Scooter Braun and gives the company control over one of the fastest-growing and most culturally relevant independent labels in the U.
According to a filing with Korean regulators, the deal is worth approximately 300 million, with Hybe paying a 250 million purchase price for QC, and issuing 50 million in new stock to QC’s founders Kevin “Coach K” Lee and Pierre “P” Thomas.
Established in 2005, and known as Big Hit Entertainment until 2021, Hybe is a multinational music talent agency, label, promoter, event management and production company. The company is home to K-pop phenomena BTS, Tomorrow X Together and Lee Hyun.
The deal comes as Hybe increasingly looks beyond K-pop and the Asian market for growth and is the first big acquisition under Hybe America CEO Scooter Braun and gives the company control over one of the fastest-growing and most culturally relevant independent labels in the U.
- 2/9/2023
- by Abid Rahman
- The Hollywood Reporter - Movie News
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