YG Leisure shares up; Blackpink reportedly to proceed as a bunch

YG Leisure shares up; Blackpink reportedly to proceed as a bunch

INDIO, CALIFORNIA – APRIL 22: (L-R) Jisoo, Lisa, Jennie, and Rosé of BLACKPINK carry out on the Coachella Stage in the course of the 2023 Coachella Valley Music and Arts Competition on April 22, 2023 in Indio, California. (Photograph by Emma McIntyre/Getty Pictures for Coachella)

Emma Mcintyre | Getty Pictures Leisure | Getty Pictures

Shares of Okay-pop company YG Leisure climbed over 3% on Monday after South Korean media reported that lady group Blackpink has agreed to proceed group actions underneath the label.

In keeping with an unique by South Korean outlet Munhwa Ilbo, particular person members is not going to be renewing their unique contracts with YG however the group agreed to proceed group actions as Blackpink underneath the label.

Munhwa Ilbo mentioned “unique contracts between every member and YG Leisure weren’t signed. Sooner or later, they plan to hold out particular person actions and are available collectively just for Blackpink actions,” in response to a Google translation.

The report added that two members already signed a contract “agreeing to proceed Blackpink’s actions,” with out naming the members.

It is the most recent growth in a long-running contract saga involving the four-member group made up of members Jisoo, Jennie, Rosé, and Lisa.

In September, YG shares plunged on two events by 9% and 13% when media stories mentioned three members of the wildly common lady group is not going to renew their contracts with the label.

On Tuesday final week, YG mentioned in its quarterly report that Blackpink’s contract is being negotiated, and the corporate will disclose the outcomes “later.”

Blackpink is arguably one in every of YG’s most profitable acts, with the corporate claiming the group’s latest world tour attracted 2.11 million individuals around the globe, spanning 66 performances in 34 cities.

Unique information supply Credit score: www.cnbc.com

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