JYP Entertainment (hence JYP) is taking steps to a *backdoor listing through Rain’s label J.Tune Entertainment (hence J.Tune), which is under KOSDAQ (Korea Securities Dealers Automated Quotation) thus, Rain and MBLAQ’s future activities are creating curiosity.
Rain’s company J.Tune is to be renamed. JYP has suceeded the managements rights of J.Tune, and JYP staff will also become J.Tune staff. Park Jin Young has made agreements with his staff. JYP will take on a new name.
Through his home page, Rain said, “the union with Park Jin Young is a mere partnership to have the best synergy effect. I am not going to be an artist under the JYP label. There will be no distribution of the share.” But the results are that Rain is legally under the JYP label. Rain will be an artist under the changing JYP label.
According to Rain, even though he is to be under JYP, the management of J.Tune will be continued by the original staff of J.Tune. Rain is to be drafted to the ROK Army early next year.
MBLAQ, produced by Rain, will continue to be artists under their current label ‘J.Tune Camp’. They will not be changing to JYP. MBLAQ was under ‘J.Tune Camp’, not J.Tune, unrelated to the union between two companies. Rain confirmed, “MBLAQ will continue to be artists under the ‘J.Tune Camp’ label.”
*T/N: backdoor listing – technique used by a company which failed to get listed on an exchange, whereby the company acquires and merges with a company already listed on that exchange.
SOURCE: Nate News
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