According to reports, Scooter Braun’s HYBE America has paid $320 million to buy Quality Control Music.

According to Variety, the powerhouse Atlanta label on Wednesday agreed to combine with and be bought by HYBE America, along with its sports, film, and television ventures (February 8).

Since taking over as the sole CEO of HYBE America earlier this year, Braun’s acquisition of Quality Control, which is home to some of the greatest artists in hip-hop like Lil Baby, Migos, Lil Yachty, and City Girls, represents his first significant business decision.

Co-founder of Quality Control Pierre “P” Thomas discussed the advantages of the alliance and expanding the business internationally in a statement.

“HYBE are perfect partners for Quality Control as we come together to take our story and work global,” he said. “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.”

“Over many years Scooter and I have cultivated real trust and a common way of looking at the world and culture,” he added. “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.”

While Thomas and fellow Quality Control founder Kevin “Coach K” Lee were reflecting on their long-standing friendship, Scooter Braun described the cooperation as coming full circle.

“I am so proud and honored to have Coach and P join Bang and I as our partners,” Braun said. “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.”

HYBE America, which has its headquarters in South Korea, has a U.S. portfolio that includes SB Projects, the management company for celebrities including Justin Bieber, Ariana Grande, Quavo, and The Kid LAROI.