Sayart.net - Controversy Surrounds Offer of Buyout for K-pop Group Fifty Fifty

ATTRAKT

In the latest development surrounding K-pop group Fifty Fifty, an audio recording released by the group's agency, Attrakt, on Monday has sparked controversy. The recording features a conversation between Attrakt and Warner Music Korea, allegedly offering a staggering 20 billion won ($15.2 million) to buy out the group's producer.

The executive director at Warner Music Korea, identified only as Yoon, can be heard stating, "We've offered Ahn Sung-il 20 billion won for a buyout." In response, Attrakt's CEO, Oscar Jun, also known as Jeon Hong-jun, expressed surprise, saying, "I've never heard about it. What do you mean by a buyout?"

Yoon replied, "We wanted to take over the kids," referring to the members of Fifty Fifty. However, Jeon claimed that he had not been informed of such an offer, raising questions about the transparency of the situation.

Attrakt had previously accused Ahn Sung-il, CEO of The Givers, the production company behind Fifty Fifty, of colluding with a third party to poach the group's members. The agency alleged that both The Givers and Warner Music Korea, the group's distributor, were involved in these attempts.

Last Monday, Warner Music Korea vehemently denied the allegations, asserting that the claims made by Attrakt were baseless. The producer of Fifty Fifty also refuted the accusations on Thursday, stating that his company had been diligently adhering to the terms of the contract and had no intention of poaching the members.

In addition to the poaching allegations, Attrakt accused Ahn of business obstruction, fraud, malpractice in the workplace, and more. The agency claimed that the producer had unfairly taken copyright ownership of "Cupid," the hit track that propelled Fifty Fifty to fame.

Both Ahn and The Givers have vehemently denied these claims. The controversy surrounding the buyout offer and alleged misconduct has further fueled tensions between the involved parties.

Fifty Fifty made their debut in 2022 under Attrakt, an agency that had recently entered the K-pop scene. Their EP "Cupid," released on February 24, has garnered global popularity, securing a place on Billboard's Hot 100 chart for an impressive 14 consecutive weeks — a remarkable achievement for a K-pop girl group.

As the legal battle ensues and the future of Fifty Fifty hangs in the balance, fans and industry observers are closely monitoring the developments surrounding this high-profile dispute.

Sayart.net 

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