It’s been clear for some time that Hybe’s global ambitions stretch well beyond the K-Pop that built the company in South Korea.
Now its US subsidiary, run by industry veteran Scooter Braun, has announced an acquisition to hammer that point home. The $320m stock and cash deal is with QC Holdings, the parent company of famed hip-hop label Quality Control.
“Taking QC worldwide requires key partners like this who understand building something from the bottom and aiming sky high,” said QC Holdings CEO Pierre ‘P’ Thomas in a statement.
Variety reported that QC’s roster of music artists “will continue its affiliation with Universal Music Group” – something smoothed by the fact that Hybe also has a partnership with UMG dating back to the days when it was Big Hit Entertainment.
We’ll be interested to see how (or if) QC Holdings’ 2022 A&R partnership with SoundCloud fits into all this as well.
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