HYBE America has entered into an agreement to merge and acquire Quality Control (QC Media Holdings, Inc.), the Atlanta-based entertainment company covering music (Lil Baby, Lil Yachty, City Girls and Migos are among its signings), sports, film and television founded by CEO Pierre “P” Thomas and COO Kevin “Coach K” Lee.
The deal, valued at $320 million in stock and cash, was led by HYBE America CEO Scooter Braun whose relationship with Coach and P, as Lee and Thomas are known, goes back to the early 2000s when Braun was living in Atlanta. It aligns with HYBE’s mission to build a global entertainment giant rooted in music with interests in other mediums and platforms related to entertainment, lifestyle and culture. QC’s music roster will continue its affiliation with Universal Music Group.
It also marks the first major move by Braun since becoming sole CEO of HYBE America earlier this year. The South Korean entertainment leader’s U.S. portfolio includes SB Projects, management home to Justin Bieber, Ariana Grande, the Kid Laroi and Migos member Quavo, among others, as well as Big Machine Label Group whose roster includes Country artists Tim McGraw, Thomas Rhett and Rascal Flatts, as well as Rock and Roll Hall of Fame nominee Sheryl Crow. HYBE’s current market cap stands at $6.6 billion.
“I am so proud and honored to have Coach and P join Bang and I as our partners,” said Braun in announcing the deal. “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.”
Added P: ““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.”
“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.”
It’s worth noting that the key architects of the deal — Braun, Lee, Thomas and HYBE chairman Bang Si-Hyuk — are all minorities whose U.S. operations employ multiple female executives in top roles, with SBP boasting a 70% non-male staff. Indeed, it’s been speculated that Ethiopia Habtemariam, who exited her CEO post at Motown Records in Nov. 2022, will join the new company in a leadership position. (Habtemariam could not be reached for comment.)
variety.com
The deal, valued at $320 million in stock and cash, was led by HYBE America CEO Scooter Braun whose relationship with Coach and P, as Lee and Thomas are known, goes back to the early 2000s when Braun was living in Atlanta. It aligns with HYBE’s mission to build a global entertainment giant rooted in music with interests in other mediums and platforms related to entertainment, lifestyle and culture. QC’s music roster will continue its affiliation with Universal Music Group.
It also marks the first major move by Braun since becoming sole CEO of HYBE America earlier this year. The South Korean entertainment leader’s U.S. portfolio includes SB Projects, management home to Justin Bieber, Ariana Grande, the Kid Laroi and Migos member Quavo, among others, as well as Big Machine Label Group whose roster includes Country artists Tim McGraw, Thomas Rhett and Rascal Flatts, as well as Rock and Roll Hall of Fame nominee Sheryl Crow. HYBE’s current market cap stands at $6.6 billion.
“I am so proud and honored to have Coach and P join Bang and I as our partners,” said Braun in announcing the deal. “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.”
Added P: ““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.”
“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.”
It’s worth noting that the key architects of the deal — Braun, Lee, Thomas and HYBE chairman Bang Si-Hyuk — are all minorities whose U.S. operations employ multiple female executives in top roles, with SBP boasting a 70% non-male staff. Indeed, it’s been speculated that Ethiopia Habtemariam, who exited her CEO post at Motown Records in Nov. 2022, will join the new company in a leadership position. (Habtemariam could not be reached for comment.)
HYBE America Acquires Quality Control, Home to Lil Baby, Migos and City Girls, in $300 Million-Plus Deal Led by Scooter Braun
HYBE America has entered into an agreement to merge and acquire Quality Control (QC Media Holdings, Inc.), the Atlanta-based entertainment company covering music (Lil Baby, Lil Yachty, City Girls a…
variety.com
