SM, Tencent Music launch joint venture to develop new Chinese idol group

SM Entertainment has established a joint venture with Tencent Music Entertainment Group in China, setting the stage for joint development of a new idol group targeting the Chinese market. SM said Thursday that the new company, named STE, has been established in Beijing, with Super Junior-M member Zhoumi appointed as its CEO. STE's establishment follows a memorandum of understanding signed by SM and Tencent Music in May to strengthen cooperation between the two entertainment companies. One of the