Posts by ItsActuallyMe

  • ADOR - HYBE Mega Thread || Summary on page 1

    if MHJ and her loyalists are removed from Ador there really isn't any need for Hybe to move newjeans to another label. MHJ might still have the 18% shares in Ador but when she doesn't hold any power anymore those shares become meaningless. It possibly only gives her the right to some yearly dividents. Hybe also holds a buy back option on MHJ's shares so if she intends to sell them, Hybe will always get first call


    the only variable of course here is what the newjeans members want/do

  • ADOR - HYBE Mega Thread || Summary on page 1

    So Hybe is also specifically accusing MHJ and other Ador executives of breach of fiduciary duty. This is what I quickly could find about this breach in Korean law:


    It is very common in Korea that directors are prosecuted and punished for his breach of fiduciary duty and negligent failure of management.


    For example, Article 356 of the Criminal Act) provides that a person who violated the duties to care for the other’s business shall be punished by imprisonment for not more than ten years or by a fine not exceeding 30 million won. The statutory punishment can be severe if the amount of business loss and harm gets larger.


    It is well known that the Korean court holds a strict position in protecting the corporate’s interest by putting a high standard of care in the director’s fulfillment of his fiduciary duty. This calls for caution from directors who are taking care of the everyday business of Korean companies.

  • ADOR - HYBE Mega Thread || Summary on page 1

    BREAKING: Hive announces interim audit results “Securing evidence of plan to seize control of Adore” [Official]

    [News Reporter Lee Min-ji] Hive disclosed the results of an interim audit regarding an attempt to seize management rights from its subsidiary Adore.


    According to the audit results released by Hive on April 25, Hive confirmed the specific facts that a plan to seize management rights was established led by the CEO of Adore and also secured physical evidence.


    During the investigation, one of the audit subjects submitted information assets containing plans to seize management rights and contacts with external investors as evidence, and also admitted to writing a Hive attack document for this purpose.

    According to the face-to-face investigation and the conversation transcripts included in the submitted information assets, Adore's CEO instructed executives to prepare a way to pressure Hive to sell its shares in Adore.

    In accordance with this instruction, methods for terminating the exclusive contract with the artist and invalidating the contract between Adore's CEO and Hive were discussed in detail. There were also conversations such as, 'Let's bring in global funds and make a deal with Hive,' 'Critical appeal for everything that Hive does,' and 'Think of ways to harass Hive


    The conversation log also contained action plans such as ‘preparing for public opinion in May’ and ‘making Adore an empty shell and taking him out.’

    Hive also obtained a statement from the audit subject that "The wording 'ultimately exiting Hive' is a transcription of what the CEO of Adore said."

    Based on the data, Hive plans to submit a complaint on the 25th against those involved on charges of breach of trust.

    Hive said, "We plan to do our best to provide psychological and emotional care for the New Genes members and support them for a successful comeback in the future. We also plan to meet with the members' legal representatives as soon as possible to discuss ways to protect the members."

    Park Ji-won, CEO of Hive, said, "We apologize to our fans, artists, and members for causing concern due to events that occurred in the process of upgrading the multi-label." “I will do my best to ensure stability,” he said.


    하이브 “어도어 경영권 탈취 계획 증거 확보” 중간 감사결과 발표 [공식]
    m.entertain.naver.com

  • ADOR - HYBE Mega Thread || Summary on page 1

    Quote from DaisyTheGenuine

    Tea?👀

    Just my feelings when connecting this article to all of the other ones

  • ADOR - HYBE Mega Thread || Summary on page 1

    One thing that all of the articles make clear is that everyone at Hybe is talking to the media now. The officials working at the different sub-labes seem to act on their own accord by sharing their perspectives both positively and negatively about Hybe and MHJ's actions.


    Feels like there's a lot of bottled up frustration

  • ADOR - HYBE Mega Thread || Summary on page 1

    Article discussing more problems between hybe labels and the limits of the multi-label system;


    The conflict between Hive and its affiliated label Adore revealed the loopholes and limitations of multi-labels. Min Hee-jin, CEO of Adore, targeted the girl group Eyelet under Belif Lab, another label of Hive, and claimed that they had copied New Jeans, and Hive launched an audit, claiming that there was an attempt by CEO Min to seize management rights.


    Mr. A, a label official under Hive who requested anonymity, said, “The multi-label system that promotes independent operation is actually inciting conflict between labels,” and added, “The structure that stimulates competition became the seed of conflict and eventually exploded.”


    “Hive’s multi-label system is designed so that each label operates independently and competition and cooperation between labels occur in order to reduce dependence on specific artists and labels.”


    There was internal competition but no cooperation, and excessive independent operation triggered a breakdown between labels. Mr. B, a label official under Hive, pointed out, “There was cooperation for dance challenges when artists came back, but there was no cooperation or collaboration at the company level or between labels.” He added, “Rather, there was more collaboration with external agencies, so the term ‘multi-label’ was meaningless.” did.


    Critics point out that lining up sales among labels has also increased internal conflicts. Last year, Hive domestic labels had big hit music (552.3 billion won), Pledis (32.7 billion won), Adore (110.3 billion won), Source Music (61.1 billion won), Billie Lab (27.3 billion won), and KOZ Entertainment (19.4 billion won). Labels with relatively low sales have no choice but to be wary of others within Hive. After all, they have no choice but to make "high-selling music" rather than good music. In the process, they often brought in original IP (intellectual property) created by other labels without hesitation because they were Hive labels, resulting in uniformity of music and style.


    This is why the suspicion of Aylet copying New Genes should never be taken lightly. The reason CEO Min was able to make this claim is because he is not just a manager but a person who directly plans and produces content. CEO Min's detailed attention to the New Jeans members' hair, makeup, and styling, as well as the album concept, music, music video, and short-form content, created the current result. They decided that such results were borrowed without the consent of CEO Min and Adore, and that they went beyond benchmarking and reached the level of copying, so they decided to raise the issue. CEO Min's actions, as a New Genes producer, are an action to protect the original IP of New Genes.

    Mr. C, a label official under Hive, said, "When Eyelet's teaser was released, there were mixed reactions even internally." He added, "There must be a clear investigation into CEO Min's suspicion of stealing management rights, but the suspicion of Eyelet's similarity to New Jeans must also be clearly revealed to prevent internal conflict. “There will be no more of this,” he said.

    https://m.entertain.naver.com/article/018/0005723112

  • Official Digital Thread

    Finally there has been an update about the Korean FTC's investigation into Youtube's bundling of Youtube Music. They've finished the investigation and are now moving onto setting possible sanctions against Youtube.