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JTBC reported that BTS is considering legal action against big hit due to revenue sharing issues
Big Hit said, It's not clear what the issue of revenue sharing between the company and BTS discussed in the article means but we and BTS are currently discussing some issues that will not affect the exclusive contract. If you reported it as if you had a dispute it doesn't fit in with your relationship.
BTS has no intention of legally contracts including profit sharing. I express my strong regret for reporting this as misleading and furthering the conflict.
This is the official position for Big Hit Entertainment
1. BTS has been seeking legal advice from a large law firm in Gangnam due to the issue of profit sharing with the company and is considering a legal responsibility against us.
After the report, we conducted a checkup with BTS members and parents and BTS patents did not inquire about legal matters about some of the exclusive contracts related to the video content business two months age. Has been verified. At the time, the inquiry did not result in a referral, and the law firm did not have official advice.
Since then, we and BTS have been discussing this issue, and it is not true that we reported a dispute over this issue. in particular, the inquiries at the time were part of a number of projects out, and even if a problem arises in this matter, it is only a detailed clause in the contract that cannot affect the exclusive contract.
So, as we reported, BTS is not trying to take legal action because it is not well negotiated on a specific issue. JTBC changed the relationship after that.
For reference, We have been encouraging BTS and parents to actively use external advice from accountants and lawyers regarding finance, settlement and law. This is because it is natural for BTS to hear professional opinions from the outside as a team or as an individual member, as the value created by BTS is increasing day by day .
At the same time, we recognize that disagreements can occur at any time as an important partnership
with BTS, and we are actively addressing all issues through serious consultation, regardless of the seriousness of the matter.
Due to some limited issues, it is not true that BTS and parents are considering legal response with us, and we must ask why we have expanded this way.
2. BTS with the company over profit sharing ahead of the re-signing of last year, and they did not close the gap with the company and went through the legal review.
BTS has no intention of responding to lawsuits such as suits "for exclusive contracts that include revenue sharing. i am very sorry for the fact that BTS misleads us as if there is a serious dispute with our company and further encourages conflict in negative terms such as "difference in position " and "conflicts".
Even for the renewal agreement last year, we and BTS recognize each other as equal partners and with the mutual recognition that the process of signing a renewal cannot be simple as the value generated by BTS is astronomical. Has long been the best model in the industry after a lengthy discussion about re-singing.
3. Regarding problems midea news and reporting activities
After the report about our company, it immediately changed to the korean Wave. In the endless "Complaint Disputes"...Why? >, We reported on some of the entertainment companies that had nothing to do with us and expressed deep regret that had nothing to do with us and expressed deep regret that we had a problem.
JTBC has been stimulating and expanding the report without confirming the facts of our company, and it is not related to the case that is not related to the company showed.
It was not enough to come to our company without prior consultation and ask one -sided question about the background without explanation. Therefore, we broke into the company's building where access is not allowed without a pass. We judged that there was a problem with this report secretly deleted content and posted it online.
We have not only the video that JTBC used for the first report, but also the CCTV video that recorded the footage of the journalist breaking into our company. It is our position that the media should report according to the principles, as long as freedom of the press is guaranteed, and we plan to raise concerns separately about JTBC's reporting behavior in this regard.
Whatever JTBC's intention for this report is not true, JTBC has expanded its content and reported it as true and related it to issues not related to our company, which ha s caused damage to us and BTS.
We believe that JTBC's report that does not comply with minimum principles, and requires JTBC's sincere apology and response.
THANK YOU .
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