Chapter 1279: The Connection Between BamBam and the JYP Crisis
"No, you just bring Mina back, and the reason is... The company asked her to participate in the planning of the new girl group, and she needs to prepare for training in advance, and as for Bambam, leave him alone...."
Speaking of which, Park Jin-young is already silently looking forward to it in her heart, hoping that Mina will not have too much contact with Bambam.
Otherwise, with Lee Hyun-cheol's attitude of protecting Mina from being harassed by this senior.
If it is found again this time, it will be as simple as breaking limbs.
"JYP needs a child with integrity and good character, and he recruited you into the company because he was good at dancing.
Who would have thought that in the past three years or so, it would cause me so much trouble again and again.
Although I don't have as much power to speak as I used to, it's not enough to make you unscrupulous......"
In the original plan, JYP planned to launch three boy bands last year with the "L" project.
But because of the company's crisis, Park Jin-young merged the two people in the ECT who had debuted with the remaining five trainees and launched it in the form of GOT7.
But so far, the combination has not lived up to the expectations he wanted.
Although after the release of the debut album, it reached the first place on the American billboard album chart.
But in South Korea, it seems that many people are not interested in this group.
Compared with the sensation caused by the debut of his two predecessors, the difference is more than a star and a half.
For this reason, Park Jin-young was very disappointed and began to give part of the resources to Missa and Suzy, who were still in the prime of life.
The other part is to separate and start to concentrate on preparing for the new girl group.
Just half a year has passed, facing the company's unresolved crisis, and getting lower and lower, and even the price per share is not as good as a glass of Frappuccino.
(At the time of GOT7's debut, the price per share of JYP was 4,770 won, about RMB28, and during that time, the Korean media reported the news that 'JYP is about to collapse'.)
Park Jin-young, who is a little impetuous, has some hopelessness for GOT7.
Even the operation of this combination was handed over to Zheng Xu.
He is concentrating on preparing for the variety show "Sixteen" to be broadcast next year according to the "TWCIE project" left by Lee Hyun-chul.
It was at this time that Jiang Qingrun called.
Some reporters are mixed up to a certain extent, and even the presidents of large companies dare not slack off.
"Now, it's time to expel you. ”
Murmuring slightly, Park Zhenying opened his eyes, and a cold cold light flashed in an instant.
There has never been such a time as humiliating as when I wanted to expel someone from the company.
The president of a company, the major shareholder of a company is supposed to fire a trainee is just a matter of one sentence.
But those shareholders think that Bambam can help them make more money in the Thai market.
A nikun gave them a taste of sweetness, so there was another bambam later, which made them want to protect it even more.
"It's just playing with a few trainees who are not famous, and Zhenying is still a little fussed. ”
"Indeed, even if these girls are good, are the other trainees of our JYP worse than them? ”
I remembered that at the internal meeting held at the beginning, a group of shareholders with different minds said this.
The weird look of yin and yang almost didn't make him sick.
But it's also to blame him, who let his past series of mismanagement, which led to JYP's fiscal deficit for several years in a row, and finally had to sell his shares to Loen.
The JYP crisis probably started in 2011.
At that time, JYP was not yet listed, and Loen became the second largest shareholder of JYP that year, with a 25.4% stake.
Although it was the second largest shareholder, the proportion of Loen's shares at that time was higher than that of Park Jin-young, the founder.
The reason why it was able to tolerate it was because between 06-07, JYP signed an overseas tour with a company for Rain.
According to the contract, 35 concerts must be held.
However, due to various reasons, only 19 events were held, and the company later made a claim of 10 billion won against JYP.
Also affected by the financial crisis in the United States at that time, S who was preparing to enter the United States was also affected in the slightest.
In order to be able to successfully fulfill their "American dream", JYP began to borrow money to let them debut in the United States, but unfortunately S failed in the United States.
At that time, although RAIN won the compensation lawsuit, he signed JYP, which had a huge debt, and gave Loen the opportunity to take advantage of the situation.
Last year, in 2013, a South Korean legal agency amended the rules for parent companies to hold 100 percent of the shares in their subsidiaries.
However, SK, the parent company of Loen, could not hold 100% of Loen's shares, so it sold its shares of Loen at a low price to Lee Hyun-chul's investment group, which was managed by Song Ki-beom.
(In reality, it was sold to HK's private equity fund).
But at that time, Loen still had the ability to operate independently, just like Lee Hyun-chul still holds Loen's shares, but has never interfered in their operations.
Loen, who got rid of a hot potato, has even greater ambitions.
I don't want to be a music company, but I want to transform into an entertainment company.
At that time, Loen intended to buy JYP, but Park Jin-young himself refused.
In this year, JYP was officially listed, and because it went public, Loen could not acquire JYP.
And at that time, around the time when Lee Hyun-cheol had just retired.
Loen took it upon himself to sell the remaining 7.19% of his shares, and many retail investors followed suit.
Some of these sold shares were bought back by Li Xianzhe halfway through.
Park Jin-young himself didn't know about it, and directly let got7 debut, wanting to make money for the company.
But in fact, the opposite is true, the debut GOT7 has been advertised by the media in all aspects of the group's dance style as being like the predecessor Beast, who has debuted for many years.
failed to become a "super newcomer" in the eyes of the public, and although their debut song "Girl" was good, it did not achieve a blockbuster effect.
Even in terms of popularity, it's not as good as when EXO first debuted.
Internally, there is a 2pm tour overseas that suppresses them.
Coupled with the fact that these seniors in the middle are dissatisfied with Bambam, various factors are combined, and Park Zhenying's depressed and tangled mood can be imagined.
And because of Lee Hyun-chul's entry, it does not mean that the crisis of JYP has been successfully resolved.
In order to be able to reclaim the shares, with the help of Lee Hyun-chul, JYP began selling the rights to the 2pm overseas tour to his Imperial Entertainment.
At a price of 10 billion won, and the surrounding proceeds are all owned by Imperial Entertainment.
Because Lee Hyun-chul knows that the rise of JYP began precisely after he left Japan at 2pm, and all the artists were driven to overseas activities.
So when Bambam was warned by unknown people, and then his limbs were broken, JYP announced that he would recuperate for three months, in fact, Park Jinying felt very relieved after knowing about it.
Although the members of the board of directors were angry, they were angry because of the shares held by Park Jin-young.
Plus Lee Hyun-chul's shares, as well as the most lucrative 2pm overseas tour rights, are all in Imperial Entertainment, so I can only swallow this breath.
It can be said that now, the role of GOT7 in Park Jin-young's eyes is not as good as before, it is equivalent to a semi-abandoned commodity.