SM Entertainment denied being aware of EXO Baekhyun's new label.
On August 9, SM Entertainment responded to reports they were supportive of Baekhyun's new label as he himself stated in a live stream. SME stated, "We had not heard anything and learned about it through the news. We're taken aback, but we have faith he'll keep the agreement we made."
SM Entertainment also addressed EXO-CBX' (Chen, Baekhyun, Xiumin) contracts, clarifying, "The contract in place has yet to expire. In Baekhyun's case, his contract runs until January of next year." The label continued, "As we mentioned in previous statements, the members' contracts have been amended. As we also previously revealed, we negotiated with the fans' interest in consideration first. As you know, EXO were preparing for a new album at the time. If the legal feud continued, we felt we wouldn't be able to promote the album the members worked so hard for, and the future of EXO's group promotions would be cloudy. That's why we negotiated for the sake of the group's future promotions."
Stay tuned for updates.
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So they basically blackmailed them by telling them that they'd stop the entire group promotions if they continued their legal action? No wonder they suddenly stopped, if the entire group was going to be held hostage.
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I don't hold much for SM's chances though if the contract runs out next year, he's (they're?) going to be gone.
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Make the most of it EXOLs, looks like SM is about to kill the golden goose.
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