12.29.10 [allkpop] J. Tune Entertainment merges with JYP Entertainment

On December 30th, Singer/producer Park Jin Young announced that the name of J. Tune Entertainment will be changed to JYP Entertainment, and that the two companies will be merging as one.

In a general stockholders meeting (to be held on February 6, 2011), J. Tune Entertainment will be electing Park Jin Young and CEO Jung Wook as members of the Board of Directors. The current board members, including CEO Kim Yoon Chul, will resign, and the company will officially change its name to ‘JYP Entertainment’.

Regarding the name change, representatives of J. Tune Entertainment stated, “Park Jin Young hopes to use the JYP label to bring J. Tune up to its status.”

Additionally, Park Jin Young signed on with J. Tune Entertainment, as explained by representative, “After acquiring shares and taking control of the company, Park Jin Young  signed a contract under the agency in order to join forces with Rain and the celebrities within it.”

A representative of JYP Entertainment revealed to Newsen on December 30th, “Park Jin Young has decided to contract with J. Tune. His contract with JYP Entertainment expired back in 2006, and since then, he has not been under any contract.

Source: Newsen via Nate

Credit: vitalsign@allkpop

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3 thoughts on “12.29.10 [allkpop] J. Tune Entertainment merges with JYP Entertainment

  1. jax625 12/29/2010 at 10:18 pm Reply

    i’m at a loss for words…it was one thing to be partners, but for jtune to dissolve into jype is almost too much for me >.< *BIG sigh*

  2. jamie . 12/29/2010 at 10:34 pm Reply

    This is so bad. I can’t.
    T_T
    JYPE is dirty business. ugh
    FML ):

    I hope for the best for Rain, Mblaq and the other celebrities.

  3. kongsao 12/30/2010 at 3:42 am Reply

    i am not liking this new at all i though rain have clrear this for he still unfer JYPE until it leave but why change the name under JYP ?????????
    it so confus me that i could belive this is real and happen just JYP alone i have enough already not Jtune too O_O oh nope i not liking to but it sound like Jtune give away to JYP here i might be wrong but i hope not what i thinking !!
    he let JYP took over what the heck is happen here i don”t to any of this over to much why is rain have JYP control Jtune i mean even he goen it still be under Jtune but why change to JYP it sound not good at all nope not this time sorry i am not liking T___T

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