2:36 AM UTC – December 6, 2023
SEOUL (Reuters) – South Korea’s YG Entertainment Inc (122870.KQ) said on Wednesday that all four members of South Korean K-pop girl group BLACKPINK have renewed their contracts with the label, sending shares of the company up by nearly a third.
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For months, there has been speculation that some members of BLACKPINK would not renew their contracts with the label, putting pressure on its shares.
“With strong trust, we signed an exclusive contract for group activities after having serious discussions with BLACKPINK,” YG Entertainment said in a statement.
The label was still in talks with the group regarding an exclusive contract for solo activities, a YG Entertainment official told Reuters.
YG Entertainment’s shares rose as much as 29% to 61,900 won ($47.16), trading at a more than a three-week high after the…
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