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: ‘K-Pop: Demon Hunters’ becomes Netflix’s most-watched film, earns Sony M bonus

  1. misc.
93 13,080 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
Cydney1,466 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
AHOF
EXCLUSIVE
[INTERVIEW] AHOF shares message behind ‘The Passage,’ hopes to deliver sincerity
12 hours ago      3,613
Park Soo Hong
Park Soo Hong’s brother and sister-in-law face prison terms in 2 billion KRW (about 1.4 million USD) embezzlement case
3 hours ago      3,334
KATSEYE
KATSEYE opens up about death threats and racism “It’s overwhelming”
2 hours ago      3,613
NewJeans, Danielle, Haerin, Hyein, Hanni, Minji
Hyein’s father is the only parent opposing NewJeans members’ contract termination
4 hours ago      26,873
Lee Kwang Soo, Lee Sun Bin
Lee Kwang Soo and his girlfriend Lee Sun Bin shows support at his film screening
7 hours ago      4,684
AHOF
EXCLUSIVE
[INTERVIEW] AHOF shares message behind ‘The Passage,’ hopes to deliver sincerity
12 hours ago      3,613
Han Hyo Joo
Han Hyo Joo captivates viewers as narrator of KBS documentary ‘Transhuman’
19 minutes ago      505
Chuu
Chuu announces second solo fan concert “Meet me there when the first snow falls”
28 minutes ago      211
Park Na Rae
Park Na Rae opens up about the anxiety and uncertainty of being a celebrity
40 minutes ago      1,077
IDID
IDID releases first teaser MV for “PUSH BACK”
1 hour ago      761
AHOF
EXCLUSIVE
[INTERVIEW] AHOF shares message behind ‘The Passage,’ hopes to deliver sincerity
12 hours ago      3,613
Park Soo Hong
Park Soo Hong’s brother and sister-in-law face prison terms in 2 billion KRW (about 1.4 million USD) embezzlement case
3 hours ago      3,334
NewJeans, Danielle, Haerin, Hyein, Hanni, Minji
Hyein’s father is the only parent opposing NewJeans members’ contract termination
4 hours ago      26,873
KATSEYE
KATSEYE opens up about death threats and racism “It’s overwhelming”
2 hours ago      3,613
BTS, V
BTS’s V sends warm message to students ahead of CSAT
8 hours ago      2,256
New Message

SEND