SM Leisure has turn into the second-largest shareholder of Nice M Leisure, the company behind boy group 82MAJOR.

On Might 23, SM introduced that it had signed a share switch settlement and would full its acquisition of shares in Nice M on Might 27.

SM defined, “This funding was made based mostly on Nice M’s CEO Kim Younger Solar’s confirmed manufacturing capabilities—demonstrated by varied profitable initiatives throughout his time at FNC Leisure—and the musical course pursued by 82MAJOR, which we imagine aligns effectively with SM’s multi-label technique.” The corporate additionally famous that it acknowledged the potential and particular person skills of the artists underneath Nice M.

The company additional emphasised, “This marks the primary case of increasing our multi-label technique—one of many core components of our ‘SM 3.0’ initiative—by exterior funding.” They added, “It’s a part of our shift towards a system wherein varied manufacturing facilities and labels independently develop and handle mental property (IP) with autonomy.”

SM additionally shared its ongoing plans to proceed buying and investing in each home and worldwide labels with the intention to increase musical range and experimentation, whereas diversifying income streams and rising its affect within the international market.

Nice M Leisure was based in March 2020 by CEO Kim Younger Solar, a former government director at FNC Leisure. The company’s boy group 82MAJOR debuted in October 2023.

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