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: W Korea clarifies donation records, confirms 1.1 billion KRW (about 773,700 USD) raised for 'Breast Cancer Awareness Campaign'

  1. misc.
93 13,032 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
Xiumin, Lee Mu jin, NMIXX, Kyujin
Lee Mu jin apologizes to NMIXX’s Kyujin over KBS boycott incident
4 hours ago      7,860
Ock Joo Hyun
Ock Joo Hyun reveals serious side effects after hair transplant “Baby hairs disappeared, hairline shocked”
5 hours ago      8,225
misc.
IVE wins again with “XOXZ” + Dynamic performances on October 18th’s 'Show! Music Core'!
2 hours ago      5,797
misc.
W Korea’s charity campaign faces questions over transparency and donations
6 hours ago      3,569
Jay Park, Park Bo Young
Park Bo Young identified as actress blocked from W Korea red carpet entry due to sponsored stockings
1 day ago      82,258
XLOV
EXCLUSIVE
[INTERVIEW] XLOV talks success of “I&Only,” hopes to bag music show trophy for upcoming EP ‘UXLXVE’
2 hours ago      892
G-Dragon, IVE, Wonyoung
IVE’s Jang Wonyoung radiates grace in elegant Hanbok for ‘APEC 2025 KOREA Campaign'
20 minutes ago      2,311
misc.
W Korea clarifies donation records, confirms 1.1 billion KRW (about 773,700 USD) raised for 'Breast Cancer Awareness Campaign'
35 minutes ago      6,463
Girls
Wonder Girls’ Yubin reveals why she couldn’t get close to Girls’ Generation’s Seohyun “We were rivals back then”
1 hour ago      7,203
misc.
IVE wins again with “XOXZ” + Dynamic performances on October 18th’s 'Show! Music Core'!
2 hours ago      5,797
XLOV
EXCLUSIVE
[INTERVIEW] XLOV talks success of “I&Only,” hopes to bag music show trophy for upcoming EP ‘UXLXVE’
2 hours ago      892
misc.
W Korea’s charity campaign faces questions over transparency and donations
6 hours ago      3,569
Ock Joo Hyun
Ock Joo Hyun reveals serious side effects after hair transplant “Baby hairs disappeared, hairline shocked”
5 hours ago      8,225
Xiumin, Lee Mu jin, NMIXX, Kyujin
Lee Mu jin apologizes to NMIXX’s Kyujin over KBS boycott incident
4 hours ago      7,860
BE:MIN, XD
BE:MIN’s Bao & Jaemin release debut single album ‘LIKE YOU, LIKE ME’
3 hours ago      1,872
New Message

SEND