Joy News claimed that Rainbow's contract with DSP Media will be coming to an end on November 13. It's reported that Jaekyung, Jisook, Woori, and more expressed desires to leave the label. An insider said, "After a long discussion, the Rainbow members decided to not renew their contract. Some of the members are already searching for other labels."
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Rainbow debuted with a mini album titled 'Gossip Girl' in November of 2009. The girls are expected to expand their careers in singing as well as acting under new labels in the near future.
Stay tuned for updates.