JYP Entertainment liquidates its sub-label AQ Entertainment in charge of managing miss A and Baek Ah Yeon
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On December 9, a rep from the business world of investment banking revealed that JYP Entertainment has decided to liquidate its sub-label, AQ Entertainment, at the the latter's meeting of shareholders. Currently, JYP Entertainment is undergoing the liquidation process of AQ Entertainment, which is known for managing miss A and Baek Ah Yeon. Only these two artists under JYP Entertainment were active under both JYP and AQ Entertainment.
The rep explained that AQ Entertainment was established in 2008 because at the time, JYP wanted to secure more diverse content and speed up the decision making process. AQ Entertainment's sales and net profit in the first half of this year were 210 million won (~ $198,000 USD) and 15 million won (~ $14,000 USD) respectively. JYP Entertainment explained, "The organization relied on AQ Entertainment to manage and make plans for miss A and Baek Ah Yeon's album, music video production, and music production."
After JYP Entertainment had merged with unlisted company (not listed on stock market exchange) JYP, it appeared that there was no need to separately manage a portion of the sub-labels, which may have led to the liquidation of AQ Entertainment. JYP Entertainment may have acted upon the point that it became less effective to manage a company with a dispersed profit.
It was also revealed that J.Y. Park was the largest shareholder of JYP Entertainment, currently having a 18.08% stake in the company stock. It was also revealed that LOEN Entertainment holds 7.19% of JYP Entertainment stock. Although LOEN Entertainment held 25.45% of then private company and unlisted JYP, after the merger, LOEN's ownership stake was converted into stock into JYP Entertainment.
It appears that after the liquidation of AQ Entertainment, miss A and Baek Ah Yeon will now be solely under JYP Entertainment.
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