Cube Entertainment confirmed, "It's true we contacted Lee Hwi Jae about signing an exclusive contract. However, nothing has been confirmed." Lee Hwi Jae's contract with his old label had recently expired, and he has been looking for a new label. Cube Entertainment mainly handles singers such as BTOB, HyunA, Pentagon, CLC, Jo Kwon, and more, but does house comedians such as Heo Kyung Hwan.
It's also been confirmed that he will not be leaving 'Superman Returns'. The show said, "Just because his contract with his label expired, it does not mean he'll be leaving the program. We will not be changing the lineup anytime soon. Unless something happens, Lee Hwi Jae will continue to be on the show."