South Korean music company HYBE is making a major move into the U.S. music market and Hip-Hop industry as they, in partnership with Scooter Braun via HYBE America, acquire Atlanta powerhouse QC Media Holdings — which houses the Hip-Hop label Quality Control Music. The sale was for $300 million.
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Atlanta Powerhouse Quality Control Sells To Scooter Braun’s HYBE America For $300 Million
QC Media Holdings was founded in 2013 by CEO Kevin “Coach K” Lee and COO Pierre “P” Thomas.
The music label founded within the holdings company has a roster that currently includes: Migos, Lil Baby, City Girls, Lil Yachty, Lakeyah, and more.
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As HYBE ventures into the United States, its HYBE America umbrella will be led by CEO Scooter Braun, who will now oversee the acquisition of QC.
It is reported that HYBE America also oversees Braun’s SB Projects — whose clients include: Justin Bieber, Ariana Grande, Demi Lovato, and Kid Laroi.
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HYBE America also oversees Braun’s Big Machine Label Group — whose roster includes Tim McGraw, Thomas Rhett, and Rascal Flatts. Big Machine Label Group was obtained by HYBE via its 2021 acquisition of Braun’s Ithaca Holdings.
Now, HYBE America will continue dipping its toes into Hip-Hop with the QC acquisition.
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Speaking on the big new move, HYBE CEO Jiwon Park said in a statement, “Based on hip-hop, QC has been making a strong presence in the American music scene. With our shared vision, I have high hopes in what we can operate and achieve together.”
Additionally, QC’s Pierre “P” Thomas stated, “All of HYBE’s leaders are entrepreneurs with phenomenal combined history [of] finding talent and taking it to the next levels.”
P’s colleague Kevin “Coach K” Lee added, “P and I are ecstatic about this partnership with Scooter and HYBE and are confident they can get us to our Global ambitions we’ve had in our scope since the beginning of the company as nothing means more than our artists impacting worldwide. Over many years, Scooter and I have cultivated real trust and a common way of looking at the World and culture.”
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Originally published at hollywoodunlocked.com