Lee Soo Man resigns from SM Entertainment, Avex sells shares

[chapstik.livejournal.com]

Edaily SPN reported that Lee Soo Man will resign from SM Entertainment and that Avex Entertainment has sold off all shares of SM Entertainment.

Apparently, SM is stating that Lee Soo Man is resigning so that SM can focus on investments and business development overseas, however I don’t see the correlation between the two events. Regardless, Lee Soo Man will no longer be engaged in business activities, however he will still remain the major stakeholder, acquiring another 1.5% of shares from Avex, making his total share of SM Entertainment, 28.3%.

In addition, the relationship between SM Entertainment and Avex Entertainment seems to be over, as Avex sold all 15.4% of their shares, with Neowizbugs acquiring the majority of it.

Avex Entertainment used to assist in promotions of SM Entertainment artists within the Japanese market, including TVXQ.

SM Entertainment was founded by Lee Soo Man on February 14, 1995.

So what does this mean for TVXQ? We’re not sure, but seeing that Avex Entertainment has sold all of SM Entertainment’s shares, it doesn’t look like good news.

Source: Edaily SPN (article)
Via: DBSK LJ Community
[Thanks to Cyn City cynth84 for the tip]
from: allkpop

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at first i was like OMG! then i was like THIS IS A JOKE RIGHT?

Comments

[jyurian21.livejournal.com]

I don't know how to react to this, I'm scared as to what could happen from now on, I mean wasn't this the GOOD guy in SM?

[kiki3291.livejournal.com]

He was. People still think he's the bad guy, but whatever.

[cynth84.livejournal.com]

LOL I was just about to post it. Btw I'm Cyn City if u want u can link my lj screen name to it. Doesn't matter really..lol

Thinking happy thoughts...

[cynth84.livejournal.com]

(http://tinypic.com)

[crypticbluerose.livejournal.com]

http://www.dramabutton.com/

I wish for a Kangta Takeover...

[youanditogether.livejournal.com]

I second this. He got back just in time.

[proleptical.livejournal.com]

Oh.

[chapstik.livejournal.com]

this gif never gets old. but i love the new HALO edition. haha.

[kiki3291.livejournal.com]

No....;___;

This does not sound good for my bbs. I was so excited with all the latest news too...

[inori88.livejournal.com]

yeah, me too... I'm very anxious

[incisively.livejournal.com]

Hm.

[wearehappiness.livejournal.com]

OMG. D: Where does this leave DBSK and Avex? My bbs. ;~;

Is this appropriate?

[proleptical.livejournal.com]

http://www.nooooooooooooooo.com/

Re: Is this appropriate?

[remy-hahn.livejournal.com]

Totally. :)

[desperategraves.livejournal.com]

oh shit

[girlknees.livejournal.com]

waitwaitwhat?
i'm not sure if i like this.
but avex can't possibly be dropping tvxq. i mean, the boys are really starting to bring in big money now! and max matsuura loves them...

[kiki3291.livejournal.com]

Yes, I'd like to think they won't get drop for those very reasons. But the only problem I see here is that Avex was the only thing currently linking them (JaeChunSU)with SM. This might be good news since their contract expires this June (I think), so they might get re-contracted with a new contract, or they don't...which means what will happen with them and SM?

I don't think the group is allowed to pursue any activities under SM until the lawsuit is over, so yeah, that's where the concern lies, I think.

[eter-loves-yaoi.livejournal.com]

oh my god, what the hell, is it like, apocalypse is coming too? and flaming green dragons? *&*%^%$&^Y)(

[ashiva.livejournal.com]

Maybe Avex is planning of signing up JaeChunSu after their contract with SM has been terminated in court? I imagine that SM wouldn't let Avex to do that if they were still connected. (in Korea, however, I hope they sign up with YG as it has mnet and SBS as backers, so SM couldn't really hinder their career there)

[jaeyin.livejournal.com]

What about HoMin?
I thought the contract between the boys and Avex ends this year. I don't think SME will allow HoMin to renew their contract with Avex.

[stopthedisco.livejournal.com]

In addition, the relationship between SM Entertainment and Avex Entertainment seems to be over

Now I cry under my skin. ;____;

[stopthedisco.livejournal.com]

OT, I need a new crying Changmin icon now.

[xkimchi-ninja.livejournal.com]

(http://tinypic.com)

[bayergal.livejournal.com]

LMAO YOU ACUTALLY USED IT.

[x-undercover-x.livejournal.com]

What about BoA?

[cynth84.livejournal.com]

exactly.

[eleclya111.livejournal.com]

Wat.

[mandyyy.livejournal.com]

Jeremy~~~!

[finchburg.livejournal.com]

JYP, swoop in and save DBSK. You know you want to.

[mcprection.livejournal.com]

this...can not be good :(

[light-lee.livejournal.com]

D:

but....




D:

[skittles.livejournal.com]

._. Shit just got real.

[youanditogether.livejournal.com]

[ginger-star.livejournal.com]

OMFG

[ginger-star.livejournal.com]

There goes SJM for real :( :(

[stopthedisco.livejournal.com]

We don't know the future of Tohoshinki or BoA now since they were with Avex, but under SM. So nobody knows if Avex will be allowed to keep them. ):

[pink-writer.livejournal.com]

...what about their artists that are... well... under Avex?

[yumeyana.livejournal.com]

mte. toho, boa, cjsh, suju, shinee are all under avex. what happens to all of them? o.o

[cloud-honey.livejournal.com]

Wait so no more BoA in Japan too? ://


OMG NO I'M HAPPY SHE'LL HAVE TO RETURN TO KOREA THEN OMGG

[leftysrockk.livejournal.com]

LOL I was thinking the same thing.