Cho Seungyoun (Woodz) joins Edam - the grip of Edam's Former Owner seems to be weakening

    THIS Male K-pop Idol Will Reportedly Join IU's Agency After Leaving Yuehua Entertainment
    A male K-pop idol will leave Yuehua Entertainment later this month, and he will reportedly move to IU's agency, EDAM Entertainment. #YuehuaEntertainment…
    www.kpopstarz.com


    Cho Seungyoun (aka Woodz), The former member of X1, will reportedly join Edam Entertainment, formerly owned by a Lee Jieun.


    When Shin Sekyung joined Edam Entertainment, Lee Jieun was the owner of Edam so she went to greet the actress.



    However, now Lee Jieun is not the owner of Edam Entertainment, and it seems Kakao is packing Edam with other singers, to weaken the ironclad grip Lee Jieun held over it.


    When Lee Jieun owned Edam, it was one of the few woman-owned company among KPop, and almost unique for a woman-owned company, it produced 4 Grand Prizes.


    Woodz' style of music is very unlike the style of music its former owner follows, and although he has some following in China and Japan, Edam's former owner might not have enough time for him. It is not known whether she approved this move, although because Kakao now owns 52.5% of Edam, it does not have to listen to her anymore.


    This is a big coup of Kakao against its best known singer, something which might have a huge ramification in the future which might end up with Edam's former owner ousted from the company she founded.

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    Quote from kpopace26

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    WhyKnock will say it is undecided because of a massive tantrum thrown by the ex-owner about another singer coming into her domain, if kakao buckles to her demands, then it will be yet another opportunity lost to save Kpop

    Quote from bbgc

    WhyKnock will say it is undecided because of a massive tantrum thrown by the ex-owner about another singer coming into her domain, if kakao buckles to her demands, then it will be yet another opportunity lost to save Kpop

    Of course that is the case. The former owner of Edam doesn't want someone who she can't control to join Edam and dilute it. Shin Sekyung was kind of OK since she is an actress and does not sing so she does not interfere with the former owner's realm, but Cho Seungyoun is a different matter.


    It is a battle of willpower between Kakao and the former owner of Edam, who can expect Kakao packing more singers in Edam if she loses this battle. It is possible that her proxy is having second thoughts about playing second fiddle to the 1,343 year old singer. He might think he would become like the ex-owner of ACube, who started APink as a manager of Cube but stabbed Cube in the back and sold ACube for $15 million. Now Kakao owns 52.5% and he owns 25%, and with a 77.5% control they can oust the 1,343 years old who only has 22.5%.


    Kakao will eventually part with her, but when is the question. Obviously it will want to retain her until Kakao Entertainment goes public.

    Quote from WhyKnock

    Of course that is the case. The former owner of Edam doesn't want someone who she can't control to join Edam and dilute it. Shin Sekyung was kind of OK since she is an actress and does not sing so she does not interfere with the former owner's realm, but Cho Seungyoun is a different matter.


    It is a battle of willpower between Kakao and the former owner of Edam, who can expect Kakao packing more singers in Edam if she loses this battle. It is possible that her proxy is having second thoughts about playing second fiddle to the 1,343 year old singer. He might think he would become like the ex-owner of ACube, who started APink as a manager of Cube but stabbed Cube in the back and sold ACube for $15 million. Now Kakao owns 52.5% and he owns 25%, and with a 77.5% control they can oust the 1,343 years old who only has 22.5%.


    Kakao will eventually part with her, but when is the question. Obviously it will want to retain her until Kakao Entertainment goes public.

    Before or after the IPO, if IU makes even one statement or makes a move out of EDAM-Kakao, their share price will take a massive hit. Not even IVE can compensate for that.


    So even if they are indeed diluting the control she has over the company, I am confident that they are paying her big bucks and more privileges in return.


    You may be fixated on ownership, but for artists unless they are interested in running other artists - ownership does not matter as much as does their contracts - revenue share, autonomy etc.,

    I don't think IU has any interest in managing other artists, else Jukjae could have as well stayed in EDAM.

    Maybe in another 20 years, she might do an Im Chang Jung and debut a group or something.


    But for now, "ownership" is purely a financial thing and as long as she is active and then owns the copyrights, she is good- fantastically good.


    ~~~~~~

    Another possible reason, is that she is moving more into acting and given the acclaimed bond of the "IU team" wants to ensure that there is another producer-musician in the company to keep them beneficially employed.


    Hence Woodz.

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