BLACKPINK will reportedly be leaving YG Entertainment in favor of the company’s subsidiary label THE BLACK LABEL.
According to KpopHerald (the K-Pop subdivision of media outlet The Korea Herald), BLACKPINK will be leaving YG Entertainment and changing their management label to THE BLACK LABEL, which is an associate company under YG Entertainment.
[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
THE BLACK LABEL used to be a subsidiary of YG Entertainment, which meant that YG Entertainment controlled over 50 percent of THE BLACK LABEL. However, as of November 2020, THE BLACK LABEL has been an associate company under YG Entertainment. An associate company means that the parent company (YG Entertainment) controls between 20-50 percent of the company.
A YG Entertainment official has told KpopHerald that they cannot confirm the news, but the BLACKPINK members still have time left on their contracts.
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.
— YG Entertainment
Previously, Taeyang also left YG Entertainment to transfer to THE BLACK LABEL.