BTS’ HYBE Agency Inks Deal With Universal Music Group for Distribution Rights, Weverse 
Fox Announces Leadership Shake-Up, Company Restructuring for Its Fox Entertainment Studio 
First Look: Tesla Cybertruck's New Tactical Grey Interior Spotted in Forum Images 
Why are blooper reels so funny? 
Kakao Gets Approval to Acquire SM Entertainment Controlling Stake 
WNBA Star A'ja Wilson to Launch Own Signature Nike Shoe 
Beethoven’s Ninth Symphony at 200: Revolutionary work of art has spawned two centuries of joy, goodwill and propaganda 
Subaru and Toyota Collaborate on 3 New Electric SUVs, Citing ‘Huge Risk’ of Solo EVs 
Divesting university endowments: Easier demanded than done 
Xiaomi CEO Lei Jun Delivers SU7 EVs Amid Brake Failure Software Misidentification Response 
Hybe Accuses ADOR Subsidiary’s CEO of Breach of Trust 
Pfizer, AstraZeneca Bolster French Economy with Nearly $1 Billion Investment 
South Korea Commits $7 Billion to Boost Semiconductor Industry 
Sony Pictures, Apollo Looking to Jointly Acquire Paramount, Propose $26 Billion Cash Deal 
Hybe Co., Ltd reportedly demanded its sub-label, Ador, to call for a board meeting, but the latter's CEO, Min Hee Jin, refused and called the request "illegal." With the rejection of the call, the tension between Hybe and NewJean's label just intensified.
Korea Joongang Daily reported that Ador will not convene its board members for a meeting as Hybe requested last week. The entertainment company that manages the global superstar boy group BTS owns an 80% stake in Ador.
Unlawful Request
Ador confirmed on Monday, April 29, that it would not hold a board meeting, which was requested after Hybe conducted an internal audit against the company last week. The sub-label's chief executive officer, Min Hee Jin, was accused of trying to take full control of Ador by appealing to third-party investors.
Following the exchange of words and accusations between the companies' leaders, Hybe demanded a board meeting so they could arrange a shareholders' meeting and ask shareholders to approve Min's termination as Ador's CEO.
In response to the call, NewJean's agency said, "A board meeting requested by an audit is only valid as long as it's to report the results of the audit, so HYBE's request for this board meeting is not legal. And on that, we have decided not to hold the board meeting."
Efforts to Oust Embattled Ador Chief
On the day it accused Min of breach of trust last week, Hybe also filed a court request to convene an extraordinary shareholders' meeting. It was said that a court usually releases its decision in four to five weeks, and before this, Min tried to stop the meeting.
KBS World News reported that Min claimed Hybe's request to push her out of the company and give up her CEO role was illegal. Thus, convening the board of directors meeting is unlawful, explaining that one reason is that this request is already outside of Hybe's authority. It is yet to be seen if the entertainment firm will succeed in ousting Min, who they believe committed many offenses against Hybe.
Photo by: ADOR Website
