JYP Entertainment has announced that J.Tune Entertainment will soon be completely absorbed by the management agency.
The details are still rather fuzzy, but from the looks of it, J.Tunes Entertainment will change its name to JYPE on February 16, 2011. Current representatives of J.Tune Entertainment have stated the reason for this name change, saying, “Park Jinyoung hopes to use the JYP label to bring J.Tune up to its status.”
The merge will mark quite a few landmarks for workers under both companies: not only will it be Park Jinyoung’s first time being signed under an entertainment company in four years (his contract with JYPE expired in 2006 and was not renewed), but it could also signal the beginning of J.Tune Entertainment’s life as a subsidiary of JYPE. This could then possibly mean that MBLAQ would be indirectly a part of JYPE.
So far, it’s been confirmed that JYP and CEO Jung Wook will be members of J.Tune’s Board of Directors, and that current CEO Kim Yoonchul will resign as the company officially undergoes a name change.
Some speculate that this could all be due to the fact that Rain will be joining the army next year, while others are simply sitting in confusion. However, Korean MBLAQ fans have also claimed that the changes will not affect their beloved boy band, as the boys are working under J.Tunes Camp rather than J.Tune Entertainment.
In the meantime, J.Tune Entertainment will be holding a general stockholder’s meeting on February 6, 2011, in which many major changes regarding their Board of Directors will be made.
Source: Kuki News, Nate, xxsheena@mblaqattack.com, tvbanimeonline.com
Written by: shadesofgrey@kpoplive.com
Written by: shadesofgrey@kpoplive.com
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