BLACKPINK to reportedly leave YG entertainment? Move in progress for a year
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According to reports, BLACKPINK will switch to YG Entertainment’s sister label THE BLACK LABEL.
BLACKPINK will leave YG Entertainment and change their management label to THE BLACK LABEL, which is an associate firm within YG Entertainment, according to KpopHerald.
The status of the switch
When THE BLACK LABEL was a division of YG Entertainment, YG Entertainment owned more than 50% of THE BLACK LABEL. The BLACK LABEL, however, has been a YG Entertainment partner company since November 2020. A company is considered an associate company if YG Entertainment, the parent company, owns between 20 and 50 percent of it.
The BLACKPINK members still have time left on their contracts, a YG Entertainment representative informed KpopHerald, adding that they cannot confirm the rumour.
“I’m not in the position to confirm the news, but our contracts with the members have not yet ended. It’s hard to confirm whether they will sign with The Black Label or not after their contracts end,” the official said.
In fact, Taeyang previously transferred from YG Entertainment to THE BLACK LABEL.