70

66

News

HYBE gains 7,000 new shares in HYBE America to pay off remaining balance in QC Media Holdings buyout deal

AKP STAFF
Posted by Susan-Han Thursday, June 6, 2024

On June 7 KST, HYBE Corporation announced that it will gain 7,000 additional shares in HYBE America.

Regarding the objective behind its latest move, HYBE stated, "It is to pay off the remaining balance from the acquisition of the overseas label QC Media Holdings." 

The value of the shares is priced at 96.2 billion KRW (~ 70.4 million USD), or 3.09% of HYBE Corporation's total equity. 

In 2023, HYBE acquired QC Media Holdings by purchasing 100% of its shares at 314 billion KRW (~ 230 million USD), adding artists like Lil Baby, Lil Yachty, and Migos to its artist lineup. 

SEE ALSO: No villains, no schemes. Here are some raw and relatable K-drama stories

  1. misc.
93 12,784 Share 51% Upvoted
 
Litekpop
Litekpop677 pts Friday, June 7, 2024 0
Friday, June 7, 2024

QC selling out is so distressing to me as old hip-hop fan. I'm low-key disgusted.

2 (+2 / -0)
Share
 
Cydney
Cydney1,468 pts Friday, June 7, 2024 0
Friday, June 7, 2024

I applaud HYBE for it’s business acumen.

1 (+4 / -3)
Share

SHOW ALL COMMENTS

allkpop in your Inbox

THE TOP 10 STORIES DELIVERED DAILY
NCT, Taeil
K-netizens react to disturbing details of Former NCT member Taeil's aggravated rape case
11 hours ago      28,605
IVE, Wonyoung
IVE's Wonyoung reveals that her favorite and most often-worn piece of jewelry was given to her by a fan six years ago
4 hours ago      5,640
Buzz
Convenience store part-timer vanishes during his overnight shift, leaving counter unattended for 8 hours
9 hours ago      13,719
Han Seo Hee
Netizen exposes Han Seo Hee for spreading false rumors about various idols
10 hours ago      11,398
misc.
"Please let me travel, my son is an idol" Man banned from leaving Korea over 290 billion KRW (around $210 million) fraud case
3 days ago      30,253
IVE
IVE drops 'Be Alright' official MV teaser
50 minutes ago      582
NCT, Doyoung
NCT's Doyoung donates 100 million won (about $73,000 USD) to help children in need
1 hour ago      599
SAY MY NAME
Netizens react to SAY MY NAME suddenly adding a new member to their lineup
2 hours ago      2,604
The Boyz
The Boyz reveal official track list for their 10th mini album 'a;effect'
3 hours ago      726
PURPLE K!SS
PURPLE KISS drops 'DOREMI' official MV teaser
4 hours ago      678
BLACKPINK, Lisa, EXO, Suho
Fans surprised by unexpected friendship between EXO's Suho and BLACKPINK's Lisa
8 hours ago      9,029
BTS, V
BTS's V shows off his adorable charms for "CELINE Printemps 2026 with Taehyung"
9 hours ago      2,472
IVE, Wonyoung
IVE's Wonyoung reveals that her favorite and most often-worn piece of jewelry was given to her by a fan six years ago
4 hours ago      5,640
Han Seo Hee
Netizen exposes Han Seo Hee for spreading false rumors about various idols
10 hours ago      11,398
NCT, Doyoung
NCT's Doyoung donates 100 million won (about $73,000 USD) to help children in need
1 hour ago      599
New Message

SEND