The 21-year-old TV personality has been accused of soliciting sex and nudes from minors.
“I used my power and influence to take advantage of young women and teenage girls,” he admits in a lengthy statement.
Plans to rebrand the label have been abandoned.
Members of bands including The Growlers, The Frights, SWMRS, The Buttertones, and Cosmonauts have been accused of abuse and predatory behavior.
The You actor has been accused of numerous incidents of predatory behavior, including soliciting nudes.
The LA County District Attorney said it can’t proceed without a live victim.
Paris Jackson has since disputed the report: “Lies lies lies.”
Kelly, 27, and Aaliyah, 15, were secretly married in 1994.
“We regret that we were not both more informed and more discerning when we worked with him previously.”
Matthew Knowles, who also served as the group’s manager, repeatedly turned down offers to work with Kelly.
Meanwhile, the R&B singer is threatening a lawsuit if Lifetime airs the docuseries as planned.
The Chicago rapper also said he regrets not backing XXXTentacion while he was still alive.