ADOR CEO Min Hee-Jin requested rights to terminate NewJeans contract in 2024
I LOVE the CEO Min Hee Jin had allegedly requested termination rights NewJeans' contract with DOES IT MOVE in February 2024. Now, I LIKE has issued a clarification on the allegations.
Did Min Hee-jin need to terminate NewJeans contracts?
CEO Min Hee-jin had requested the rights to terminate the NewJeans contract with out interference from ADOR and HYBE shareholders in February this yr, a South Korean media outlet claimed. The request was reportedly proposed as an modification to the ADOR CEO's present shareholder settlement with HYBE.
For the uninitiated, points concerning the unique contracts of main artists are determined by a shareholders' assembly. Nonetheless, Min Hee-jin reportedly requested an modification to her shareholder settlement that will permit him to terminate NewJeans' unique contracts with ADOR at her expense, with out consulting board members and with out interference from HYBE. HYBE reportedly rejected this demand. The file label reportedly started to suspect that ADOR's CEO was planning an exit following this request.
ADOR on Min Hee-jin requesting rights to terminate NewJeans contract
ADOR responded shortly to the studies. “On January 25, 2024, Min Hee-jin had a face-to-face assembly with HYBE CEO Park Ji-won, wherein he made some requests concerning (unique rights to signal) essential contracts, together with that of suppliers of chosen outdoors companies and unique artist contracts. She had made the request to resolve the unfair interference she confronted throughout NewJeans' debut course of, in addition to to run a extra impartial label,” the label said.
They additional added: “That is one more aspect that exhibits how HYBE distorts the reality and begins media sport wars by way of cherry-picking. Moreover, in the event that they plan to proceed making the negotiations on the shareholder contracts public, we recommend that they reopen the discussions on the contracts with us.”