BEAST's new independent music label Around US Entertainment has partnered with other entertainment agencies, expanding the agencies' portfolio of artists. Arion Technology, which is the umbrella company for entertainment agencies such as Dream T Entertainment, YMC Entertainment and Line Entertainment, has invested a huge sum in BEAST's new label.
Korean-based company Arion Technology invested 2 billion won into BEAST's new label Around US Entertainment. The company now holds a 30 percent stake in Around US Entertainment, making it one of the big shareholders of the latter, Koreaboo reported.
In a statement, Around US Entertainment clarifies that BEAST is still the largest shareholder in the agency. As for Arion Technology, it aims to become one of the top 5 entertainment agencies in the country.
Arion Technology owns three other entertainment agencies namely Dream T Entertainment, Line Entertainment and YMC Entertainment. These agencies handle a number of idol groups, solo artists, actors and actress including Ailee, Girls' Day, I.O.I, MC Mong and Kim Gura. Thus, BEAST is now considered label mates with these artists.
BEAST launched Around US Entertainment in Dec. 15 this year. After the members' contracts with Cube Entertainment expired in October, the members transferred to their new independent label. The members of BEAST were with Cube Entertainment for seven years, starting with their debut with "Bad Girl."
For now Around US Entertainment and Cube Entertainment are in negotiations regarding BEAST's trademark as they move forward under a new agency. The rights to BEAST's songs and the use of their stylized name and logo are still with Cube Entertainment. "We have not yet decided on anything regarding BEAST's trademark. We are currently in discussion," Around US Entertainment says, via Soompi. Further, the agency shares that both agencies have an amicable relationship and that the creation of Around US Entertainment was with proper permission from BEAST's former agency.