Hybe completed the acquisition of Exile Music from Candle Media.

Hybe, a South Korean music label completed the acquisition of Exile Music, a Spanish-language music label, from Candle Media, a media company. Financial terms were not disclosed. Hybe is looking to tap into the rapid growth of the estimated $1.3 billion Latin music market, as it reported a year-on-year growth of 26.4% in 2022 compared to a 9% growth in the global music market according to its statement.