SM Entertainment has announced that they have become the largest shareholder in Mystic Entertainment.
SM Entertainment announced on March 30 that they have acquired 28% of Mystic Entertainment. Mystic Entertainment was originally founded in 2001 by singer/songwriter, Yoon Jong Shin.
Yoon Jong Shin is an extremely well-respected veteran in the K-Pop industry, with more than 10 full-length albums released since his debut. He has over 10 solo full-length albums and has worked with artists such as Tablo, Beenzino, Yoo Hee Yeol, SEVENTEEN, VIXX and more.
Mystic Entertainment houses notable artists such as Brown Eyed Girls, MBLAQ’s Thunder, Eddy Kim and multiple mainstream actors, models, and producers. The label also owns A POP Entertainment, which they acquired during a merger in 2014.
SM Entertainment’s subsidiary label, SM C&C will begin working closely with Mystic Entertainment for their video content production following the acquisition.
Past acquisitions and investments by SM Entertainment include AM Entertainment (merged with SM C&C in 2012), Hoon Media (acquired in 2013), and Baljunso (investment in 2013).
Source: TV Report