HYBE: Last News

+233

ADOR CEO Min Hee-jin reportedly “demanded” for authority to terminate NewJeans’ contracts

ADOR CEO Min Hee-jin had allegedly “demanded” for HYBE to give her the authority to terminate NewJeans‘ contracts, according to a new media report.The claim that Min Hee-jin had asked to have the authority over the exclusive contracts of popular K-pop girl group comes from a new Yonhap News Agency report today (May 2), which described her request as a “demand” while citing unnamed sources from the music industry.The ADOR CEO had reportedly made the request after negotiations between the executives of the K-pop agency and its owner HYBE over a revised shareholders agreement had hit a roadblock around the tail-end of 2023. HYBE allegedly reportedly rejected the demand, calling it “too much”.Min has since confirmed that such a “request” submitted in a proposal to HYBE, but claimed that it was to “address unreasonable interference [by HYBE], an issue that emerged during NewJeans’ debut, and to ensure independent management of the label” in a statement.The ADOR CEO also denies that the request was related to recent allegations that she had planned to takeover control of the K-pop agency from HYBE.
nme.com

All news where HYBE is mentioned

nme.com
83%
783
NewJeans members reportedly earned USD3.7million each in 2023
NewJeans were reportedly paid KRW5.2billion (roughly USD3.7million) each in 2023, according to newly released ADOR documents.This is according to a report by Korea JoongAng Daily, which cites an electronic disclosure by ADOR that has been released amid the K-pop agency’s ongoing dispute with its parent company, entertainment giant HYBE.NewJeans – comprising Minji, Hanni, Danielle, Haerin and Hyein – were reportedly paid a total of KRW26.1billion (USD19million) in total last year, which translates to roughly KRW5.2billion (USD3.7million) for each member of the girl group.The disclosure also revealed that ADOR earned KRW110.3 billion (USD80million) in 2023, a fivefold increase from the year prior. It also made ADOR the third highest earning label under HYBE for the year, following Big Hit Music (KRW552.3billion) and Pledis Entertainment (KRW327.2billion).ADOR’s revenue in 2023 also helped it earn an operating profit of KRW33.5billion (USD24.3million), following a KRW4.0billion (USD2.9million) loss in the year prior.In related news, HYBE has said that it will file a complaint against executives of K-pop agency ADOR, including CEO Min Hee-jin, over a breach of trust and other allegations amid an ongoing dispute between the entertainment giant and the management of ADOR over control of the K-pop agency.Despite the growing spat between HYBE and ADOR, NewJeans will reportedly still move ahead with plans to release new music next month, according to a source with “knowledge in the matter”.
DMCA