INDIO, CALIFORNIA - APRIL 22: (L-R) Rosé, Jennie, Jisoo, and Lisa of BLACKPINK perform at the Coachella Stage during the 2023 Coachella Valley Music and Arts Festival on April 22, 2023 in Indio, California. (Photo by Emma McIntyre/Getty Images for Coachella)Shares of K-pop agency YG Entertainment tumbled 13.28% on Thursday after South Korean media reported that three of the four members of girl group Blackpink will not sign new contracts with the label. South Korean outlet Sports Seoul reported, citing "multiple music industry officials," that members Jisoo, Jennie and Lisa will sign contracts with other labels, while Rosé will renew her contract with YG. Reuters reported that YG said contract talks are ongoing and nothing has been decided. This comes after Thailand-born Lisa allegedly rejected two contract renewal offers from YG last week, with the size of the contract reportedly worth 50 billion South Korean won ($37.6 million).

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Persons: Rosé, Jennie, Jisoo, Lisa of BLACKPINK, Emma McIntyre, Lisa Organizations: Coachella, Valley Music, Arts Festival, YG Entertainment, South, Sports Seoul, YG, Reuters, South Korean Locations: INDIO , CALIFORNIA, Indio , California, Blackpink, Thailand