ATLANTA (CelebrityAccess) – HYBE America, who announced Scooter Braun as the sole CEO less than a month ago announced Wednesday (January 8) that it has acquired QC Media Holdings, the parent of Hip-Hop label, Quality Control (QC). QC currently boasts a roster of rap music’s biggest names including Migos, Lil Baby, City Girls, and more. Variety reports the deal is valued at approximately $320 million in cash and stocks.
QC, a music, sports, film, and television company was founded by Chief Executive Officer (CEO) Pierre “P” Thomas and Chief Operating Officer (COO) Kevin “Coach K” Lee.
The sale of QCl was led by Braun, who joined HYBE (formerly Big Hit Entertainment) when he sold Ithaca Holdings to the South Korean-born corporation for $1.05 billion in 2021. Ithaca is partly known for selling the recorded music rights to Taylor Swift’s first six albums to Shamrock Capital, in 2020 for around $300 million.
HYPE America CEO Braun said, “I am so proud and honored to have Coach and P join Bang (HYBE Chairman Bang Si-Hyuk) and myself as our partners. QC is one of the most significant independent labels in the world, working with incredible artists who are, and remain to be, the voices of culture. I’ll never forget riding around Atlanta over 20 years ago with Coach discussing our dreams and ambitions and how we said: ‘If they let us in the game, we are never going to give it back’. Now, all these years later, we are joining forces to make these dreams a reality. It’s important to my team and me that P and Coach continue to have the freedom, and now our global resources, to continue to do what they do best; facilitate and nurture great art and culture.”
The acquisition gives QC access to HYBE’s global entertainment innovation capabilities.
“Taking QC worldwide requires key partners like this who understand building something from the bottom and aiming sky high. It matters to us greatly their grasp of culture and acutely seeing what QC has built and the limitless path of where it can go,” said P Thomas, QC’s co-founder, and CEO.
“We have so much gratitude to the whole QC family of artists and without them, this wouldn’t be possible. This partnership will create a global platform for our artists which has been our goal since day one for them,” Thomas added.
“This partnership is a vital part of our growth plan to innovate the entertainment industry through a diversified portfolio and advanced technology. We will work together to continue adding depth of hip-hop to the global music industry,” said Bang Si-Hyuk, HYBE Chairman.
HYBE America manages clients such as Justin Bieber, Ariana Grande, and Demi Lovato.
