HYBE Acquires QC Media Holdings
• HYBE continues to expand its media footprint — the company’s latest acquisition is Atlanta-based QC Media Holdings, Inc., the music, sports, and film & television empire founded by CEO Pierre “P” Thomas and COO Kevin “Coach K” Lee, the home of Quality Control Music and acts like Migos, Lil Yachty, Lil Baby, and City Girls, in a deal reported to be in the range of $320 million.
“I am so proud and honored to have Coach and P join [HYBE Chairman] Bang [Si-Hyuk] and myself as our partners,” said Scooter Braun, CEO of HYBE America. “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.”
Thomas noted, “HYBE are perfect partners for Quality Control as we come together to take our story and work global. All of HYBE’s leaders are entrepreneurs with phenomenal, combined history finding talent and taking it to the highest levels. 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. QC and HYBE both have an existing relationship with the Universal Music Group family of companies makes this seamless. 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.”
Coach K remarked, “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 our 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. An added bonus of this partnership is the fact that both QC and HYBE have existing relationships with the UMG family and that will create an easy flow that will benefit the artists. The artists of QC are our focus and their best interests will be incredibly supported with this partnership.”
“Based on hip-hop, QC has been making a strong presence in the American music scene,” said Jiwon Park, CEO of HYBE. “With our shared vision, I have high hopes in what we can operate and achieve together.” HYBE Chairman Bang Si-Hyuk commented, “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.”
Pictured above, (l-r) HYBE Chairman Bang Si-Hyuk, QC CEO Pierre “P” Thomas, QC COO Kevin “Coach K” Lee, and HYBE America CEO Scooter Braun. [Photo credit: HYBE AMERICA]
