Pierre “P” Thomas and Kevin “Coach K” Lee have made a new deal with Quality Control. The two executives have sold their Atlanta-based entertainment company to HYBE America, according to Variety. Valued at $320 million in stock and cash, the business transaction was led by HYBE CEO Scooter Braun, who became the sole CEO earlier this year.
According to the outlet, the purchase aligns with HYBE’s “mission to build a global entertainment giant rooted in music with interests in other mediums and platforms related to entertainment, lifestyle, and culture.”
QC’s music roster will not end its affiliation with Universal Music Group.
“I am so proud and honored to have Coach and P join Bang and I as our partners,” explained Braun in announcing the deal.
“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. I’ll never forget riding around Atlanta over 20 years ago with Coach discussing our dreams and ambitions and how we said ‘If they let us in the game, we are never going to give it back.’ Now, all these years later, we are joining forces to make these dreams a reality.”
He later added, “It’s important to me and my team that P and Coach continue to have the freedom, and now our global resources, to continue to do what they do best; facilitate and nurture great art and culture.”
“HYBE are perfect partners for Quality Control as we come together to take our story and work global. All of HYBE’s leaders are entrepreneurs with phenomenal combined history finding talent and taking it to the highest levels. Taking QC worldwide requires key partners like this who understand building something from the bottom and aiming sky high. It matters to us greatly their grasp of culture and acutely seeing what QC has built and the limitless path of where it can go,” shared P.
“Over many years Scooter and I have cultivated real trust and a common way of looking at the world and culture. An added bonus of this partnership is the fact that both QC and HYBE have existing relationships with the UMG family and that will create an easy flow that will benefit the artists. The artists of QC are our focus and their best interests will be incredibly supported with this partnership.”
Coach K added “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 world-wide.”
While many congratulated the pair on the deal, others took issue with the sale of QC, believing the pair “sold out” a flourishing, Black business for a massive money grab. P has since taken to Instagram to address those critics.
“I don’t usually post long notes but I recorded some thoughts tonight,” he began. “There’s no value in separation. There is so much more value when people are working together and not hating and taking eachother down. Especially when you come from nothing.”
He went on, “Stop thinking people are selling OUT. Instead see people are selling IN and see that you are building something to create more-for everybody. Black entrepreneurs are not getting these opportunities on a regular basis and they should be. Let’s stay inspired and celebrate the blessings and leveling up and breaking of barriers. Ready For The Next Chapter.”
Variety notes that Quality Control and HYBE, led by Braun, Lee, Thomas, and HYBE chairman Bang Si-Hyuk, are all minorities whose U.S. operations employ multiple female executives in top roles.
Quality Control represents talent in sports, film, and television, however, is most known as a music label for acts including Migos, Lil Baby, City Girls, and Lil Yachty.