YG Entertainment has responded to reports of a potential change in management for girl group BLACKPINK.
Earlier today, a report by Kpop Herald claimed that the girl group will be parting ways with their founding agency to join The Black Label, a YG Entertainment subsidiary headed by K-pop producer Teddy Park.
[Exclusive] @BLACKPINK will change their agency to YG affiliate @THEBLACKLABEL, founded by Teddy, according to our sources. The industry insider added that the discussions over changing the girls' management have been made since early this year. #BLACKPINK #블랙핑크 pic.twitter.com/dVup3zPfTC
— KpopHerald (@Kpop_Herald) December 30, 2022
In a separate report by The Korea Herald, an industry insider consulted by the media outlet claimed that discussions over the members’ contracts and change in management were completed early this year. A representative from YG Entertainment has since responded to these reports, stating that “there’s nothing [to] confirm regarding the news.”
“What I can say is that our contracts with the members have not ended yet,” the YG representative said of the news, per The Korea Herald. “It’s hard to confirm whether they will sign with The Black Label or not after their contracts end.”
Rumours of BLACKPINK’s departure from the label come at the heels of several idols ending their exclusive contracts with the company. Earlier today (December 30), it was announced that YG Entertainment and iKON have “mutually agreed” to end the group’s exclusive contract with the agency.
Earlier this week, Big Bang members Taeyang and Daesung also parted ways with the agency following the expiration of their contracts. It was later announced that Taeyang had signed an exclusive contract with The Black Label. Their departure from YG Entertainment comes several months after member T.O.P left the agency in February.