One of the hottest record labels in Atlanta has just been sold.
According to The Hollywood Reporter, South Korean entertainment company HYBE has acquired Quality Control Music, which is led by founder Kevin “Coach K” Lee and Pierre “P” Thomas. The deal is worth approximately $300 million, as HYBE paid $250 million to purchase the label, and gave the remaining $50 million in new stock to Lee and Thomas.
HYBE is a multinational music talent agency, label, promoter, event company, and production company, led by CEO Scooter Braun. A few of the talents managed by the company are BTS, Tomorrow X Together, and Lee Hyun.
Braun’s relationship with Coach K and P goes back to the early 2000s when he was living in Atlanta.
“I am so proud and honored to have Coach and P join Bang and myself as our partners,” Braun said. “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.”
Quality Control has developed the likes of artists such as Migos, Lil Baby, Lil Yachty, and City Girls.
“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,” Lee said.
