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Baekhyun beforehand said that SM Entertainment was supportive of his new label.
Koreaboo
SM Entertainment denied that they knew about Baekhyun‘s new label.
On August 9, SM Entertainment released a statement about EXO-CBX’s contract standing with the label.
The contract in place has not expired. In Baekhyun’s case, his contract runs till January of subsequent 12 months.
— SM Entertainment
Previously, one YouTube reporter claimed that Chen and Xiumin can be leaving the corporate in September and October, respectively, and are planning to signal with Baekhyun’s new label.
Regarding this, SM Entertainment didn’t point out the members’ contract standing. Instead the label emphasised that their new contract with the members was legally viable and defined the contracts have been amended with followers’ pursuits in thoughts.
As aforementioned in our earlier press launch, members’ contracts have been amended. Also, as we beforehand revealed, we negotiated with our followers’ curiosity on the forefront. As you effectively know, on the time, EXO was making ready for his or her new album. If the authorized feud continued, we felt we wouldn’t have the ability to promote the album the members had labored so exhausting for, and the way forward for EXO’s group promotions can be cloudy. Therefore, we negotiated for the sake of the group’s future promotions
— SM Entertainment
SM Entertainment then denied Baekhyun’s assertion claiming that SM Entertainment had recognized concerning the idol’s new label and that it was supportive of the idol’s new enterprise.
As for that, we had not heard something and had realized about it within the information. We are shocked, however we have now religion that he’ll preserve the settlement we had made.
— SM Entertainment
Recently, EXO’s Baekhyun held a livestream to deal with allegations stemming from his monetary dealings. During the livestream, the idol said that he had arrange a brand new label and that SM Entertainment was conscious of this and was supportive. You can learn extra on the livestream within the hyperlink under.
EXO
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Content Source: www.koreaboo.com