The duo behind some of hip-hop’s hottest stars just made a major business move.
Pierre Thomas (known as P) and Kevin Lee (a.k.a. Coach K), otherwise known as the leading team behind music label Quality Control (QC) has reportedly brokered a deal to sell QC to Hybe America, a company headed up by music executive Scooter Braun.
A king-maker of sorts, Braun currently manages pop stars like Justin Bieber, Ariana Grande and Demi Lovato. He recently became sole chief executive of Hybe America, a division of the K-pop entertainment firm Hybe.
“QC is one of the most significant independent labels in the world,” Braun said in a statement to The New York Times. “They not only distribute music, but they also distribute culture. Their artists are the voices of their communities.” The founders will reportedly act as leaders of the label, under the direction of Braun.
According to the outlet, the deal is estimated to be around $300 million although the details haven’t been confirmed.
“We want to take our brand worldwide and need partners with mind-sets like ours — ground up, self-made and building companies from nothing,” Thomas, Quality Control’s chief executive, said in a statement as reported by The New York Times. “All of Hybe’s leaders are entrepreneurs with track records for finding, growing and amplifying their talent globally.”
Since its founding in 2013 QC has overseen the rise of talents like Migos, The City Girls, Lil Baby and Lil Yachty. Just four years later, QC had landed a global hit with Migos’ “Bad and Boujee.”
Although the New York Times pointed out that the deal has been “closely watched” for some time, the sell has come as a bit of a surprise to social media onlookers.
The label is responsible for many of the last decade’s hip-hop hits and has come to be synonymous with contemporary music’s biggest rap artists.