The members of BLACKPINK are closing out the year with some bombshell news — Jennie, Jisoo, Rosé and Lisa have split with YG Entertainment for all solo endeavors.

On Friday (Dec. 29), YG issued a statement announcing the decision. “YG recently signed an extension contract for BLACKPINK’s group activities and agreed not to proceed with a separate additional contract for individual activities,” read a translated statement provided to Billboard by representatives for YG Entertainment. “We will do our best to support BLACKPINK’s activities and will cheer for the individual activities of the members with a warm heart.”

Earlier this month (Dec. 6), via a regulatory filing, YG Entertainment confirmed that BLACKPINK had renewed its contract with the company for all group activities. Details regarding the new contracts were not immediately available upon filing.

Just this week (Dec. 24), Jennie shared that she will be launching a new record label and company called OA. A caption of a photoset posted to the official OA Instagram page reads: “OA, which stands for ODD ATELIER, is a space that aims to create new things that attract attention in a different way from what is usual or expected. It is a label founded by artist JENNIE in November 2023.”

To date, all four members of BLACKPINK have begun their respective solo journeys. In 2021, both Rosé and Lisa unleashed their debut solo albums. Rosé’s -R- contained the single “On the Ground,” which debuted at No. 1 on both the Billboard Global 200 and Global Excl. US charts — the first song by a Korean solo artist to do so. With her LaLisa album — which housed a pair of Billboard Hot 100 hits in the title track (No. 84) and “Money” (No. 90) — Lisa became the first soloist to win the MTV Video Music Award for best K-pop.

This spring (Mar. 31), Jisoo released Me, her debut single album. The two-track project was led by “Flower,” which reached No. 2 on the Global 200. Although Jennie was the first BLACKPINK member to go solo back in 2018 (her aptly titled “Solo” peaked atop US World Digital Song Sales), she finally made her Hot 100 debut on the chart dated Dec. 30, 2023, with her Idol hit “One of the Girls” alongside The Weeknd & Lily-Rose Depp. In June, Jennie starred in the controversial Weeknd-produced HBO drama The Idol.

BLACKPINK is, to date, the most successful K-pop girl group in U.S. history. In 2023, the group headlined Coachella and wrapped their blockbuster Born Pink World Tour (which helped them take home top K-pop touring artist at the 2023 Billboard Music Awards) in support of their Billboard 200-topping Born Pink album.

Representatives for BLACKPINK did not immediately respond to Billboard’s request for comment.