Popular Girl Group’s Future Put In Jeopardy By Agency’s Legal Battles, Mistreatment Claims, And More
Concerns about a popular girl group’s fate are on the rise following the latest news about their agency’s financial woes.
SNH48 is a Chinese idol girl group that debuted in 2012. Until 2018, it was a sister group of the popular Japanese girl group AKB48. Despite their widespread popularity in China, the group is now reportedly facing an uncertain future because of their agency, STAR48 (also known as Shanghai Siba Culture Media Group Co., Ltd.).
The Shanghai Hongkou District People’s Court recently froze 120 million yuan (approximately $16.7 million USD) of the agency’s shares. According to industry insiders, the freeze is connected to the agency’s failed attempts to go public with an IPO plan, which has led to disgruntled investors allegedly taking legal action. The corporate data platform Tianyancha reported four share freeze entries connected to STAR48 and a few high-profile individuals connected to the company.
The three-year-long freeze will affect STAR48 and, by extension, SNH48. According to Tianyancha’s report, STAR48 is currently involved in hundreds of legal disputes, some of which involve former members of SNH48. The group and its sister groups have collectively lost over a dozen members since April. Some of these members, including Wang Yi, have accused STAR48 of mistreatment and are suing STAR48.
Angry Girl Group Member Announces Sudden Departure, Intention To Sue Agency
Wang Yi announced her exit in May, and fellow ex-member Zhou Shiyu announced her departure in June.
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