Monday, December 27, 2010

JYP becomes J.Tune's biggest shareholder


On December 27th, JYP Entertainment announced, 'JYP Entertainment and its employees have become the biggest shareholder of J.Tune Entertainment via third party shares allotment.'

JYPE continued, 'Some time ago, J.Tunes' talent Rain approached JYPE producer Park Jin Young with a proposal. Until he joins the army next year, Rain will focus solely on his singing and acting activities. He has requested that JYPE be in charge of his company’s management.'

Both sides revealed, 'JYPE’s shareholders had the same suggestion as Rain's, and the proposal was completed after the review.'

JYPE expressed, 'In the future, Rain will be able to freely and actively promote himself with the best support behind him. In the last three years, Rain has gained a lot of experience, and we plan to create a strong and positive synergy.'

Source: Sports Today via Nate
Credit: Allkpop

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