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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: 'Culinary Class Wars' contestant Yu Bibim announces return following hiatus over his illegal restaurant business

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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)
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Cydney
Cydney1,468 pts Friday, June 7, 2024 0
Friday, June 7, 2024

I applaud HYBE for it’s business acumen.

1 (+4 / -3)
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