SEOUL, South Korea (CelebrityAccess) — South Korean entertainment giant Hybe announced the acquisition of the Spanish language content company Exile Music, marking Hybe’s first foray into Latin America.
The deal is part of Hybe’s push to develop wider international audiences and the company said it will establish a Latin American division for artist management and talent discovery with a focus on brining K-pop style artist development methods to other genres of music.
Exile was founded in 2019 by Isaac Lee, and the company is a division of the private equity-backed Candle Media.
Following the acquisition, Lee will serve as Chairman of the board for Hybe’s new Latin American division, the company said.
The acquisition follows previous reports by Bloomberg that Hybe was gearing up for international acquisitions, as the company seeks to diversify beyond its K-Pop business.
