On October 28th, 9:00 AM KST, DSP Media officially announced the disbanding of Rainbow after 7 years.DSP Media stated that they were initially planning to do their best to renew the contracts with everyone but in the end decided to settle on disbanding.
On the 28th, DSP stated “After much talking with all the member of Rainbow who have been with DSP for a very long time, we have all decided to part ways.”
They continued on to say,“As of November 12th, 2016 Rainbow who have been with us for 7 years face the end of their contracts. The company hopes that they will always be remembered and shine like the rainbow they are and will continue to support and cheer for their success in whatever field they end up. We are thankful for all the love and support fans have shown them for 7 years and hope you support the members in their new endeavours.”
Source: Sports Chosun