Source: Prince Williams / Getty
Quality Control Music, one of the most popular record labels in Hip-Hop, was acquired by Hybe America, the entertainment company helmed by Scooter Braun. According to reports, Quality Control Music was purchased at the price of $320 million.
The news was first announced on Wednesday (Feb 8.) by Hybe America and QC Media Holdings as reported by the New York Times. Hybe shared that the price of the acquisition includes both cash and stock holdings. Braun, one of the top music executives in the business, was named CEO of Hybe America in January. Hybe America’s parent company, Hybe, is based in South Korea and manages the K-pop group BTS.
“QC is one of the most significant independent labels in the world,” Braun said to The New York Times in a statement. “They not only distribute music, but they also distribute culture. Their artists are the voices of their communities.”
Quality Control Music was established in 2013 under the leadership of Pierre “P” Thomas and Kevin “Coach K” Lee. The label is the home of Lil Baby, Lil Yachty, and the Migos. According to P and Coach K, they are still the heads of the label but Braun will direct all business moves.
“We want to take our brand worldwide and need partners with mind-sets like ours — ground up, self-made and building companies from nothing,” P added in a statement regarding the new deal. “All of Hybe’s leaders are entrepreneurs with track records for finding, growing and amplifying their talent globally.”
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Photo: Getty
