FIFTY FIFTY's Controversial Buyout Standoff: 'Unilateral Action' vs 'Forced Framing'
The ongoing controversy surrounding the girl group FIFTY FIFTY continues to intensify as Attrakt Entertainment files a lawsuit against The Givers' producer, An Seong-il. While The Givers expressed regret over the situation, they also urged an end to the 'forced framing'.
On July 3, The Givers issued an official statement: "Attract Entertainment is falsely portraying our executive, An Seong-il, as if he independently discussed FIFTY FIFTY members' future with Warner Music Korea, but that is not the truth."
They further explained that Warner Music Korea initially proposed the structure of the label deal and expressed a desire to discuss it with CEO Jeon Hong-jun, hence connecting Attrakt Entertainment and Warner Music Korea.
They added that "The proposal was a positive signal for Attrakt Entertainment, which lacked funds and needed stable management. We thought this would be beneficial for the company and artists in the long run and therefore relayed Warner Music Korea's proposal."
They noted that CEO Jeon refused the proposal with hopes of Attract's public listing and subsequently showed interest in pre-investment. According to them, Warner Music Korea adjusted the proposal accordingly.
The Givers clarified that they were not the decision-makers and did not play any unnecessary roles in this matter. They mentioned that it was Attrakt Entertainment's decision to communicate with Warner Music Korea without knowing the content, and according to their opinion, Warner Music Korea altered the proposal direction.
They further stressed that contrary to Attract's claims of a conspiracy by them due to dissatisfaction with the rejection of the label deal with Warner Music Korea, they had no such intentions, adding they gained no benefit from such processes and asked for an end to the forced framing.
The Givers emphasized that "the main reason for our cessation of work with Attract was the structural problems and financial difficulties in production operations, which have been ongoing since before the establishment of Attrakt."
They explained that despite pouring all their resources, energy, and infrastructure into the project, the chronic issues were not resolved, leading to the project's termination despite several discussions with CEO Jeon.
Earlier, Attrakt Entertainment had released a recorded call between CEO Jeon and Executive Director Yoon Mo of Warner Music Korea. Amidst accusations that An Seong-il of The Givers is the culprit behind the attempted poaching of FIFTY FIFTY, Attrakt had sent a legal notice to Warner Music Korea on June 26, questioning the event's connection, to which Warner Music Korea denied any ground on the same day.
According to the released recording, CEO Jeon showed surprise upon hearing from Executive Director Yoon that there was a proposal of a 20 billion Won buyout from Mr. An. When Jeon asked, "What is a buyout?", Yoon replied, "It's basically taking all the kids."
Meanwhile, FIFTY FIFTY had filed an injunction to suspend the effect of their exclusive contract with Attrakt in June, with the first hearing scheduled for July 5. Legal firm Barun Law, representing FIFTY FIFTY, responded by highlighting the several problems they have pointed out and requested rectification, while Attrakt continues to tarnish the members' reputations through media without explaining the contract violations. They emphasized that the members have been disappointed and frustrated by Attrakt's refusal to listen to their voices and unilateral disclosure of a member's surgery without consultation.
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