!SM Finishes Relationship With Mnet!

Looks like SM is on the roll after it’s founder LeeSooMan quit [See Kpoptheworld previous articles]  the company has been on bad terms with music providing network giant Mnet with SM stating: ”It has been confirmed that Mnet, with whom we have been discussing of long-term music source provision early this year, has violated the contract with our company. They were found with unauthorised use of SM contents on the ASP sites under Mnet.com and Mnet Media.”
It has always been a well known fact that SM and Mnet did not get along, when back in 2009 SM boycotted Mnet’s Mama awards, but the history of their feud goes way back.
SM is one of Korea’s biggest star making company, home to artists and groups such as SNSD, Shinee, Super Junior & DBSK with more to name!
Mnet is a media company owned by CJ Media which focuses on music, media, entertainment and web content business and is five of the largest companies in the country. Mnet is involved in most aspect of the entertainment industry, from album production, distribution, sales, management, television broadcasting, online media and many other businesses, this makes Mnet a giant in the music industry, with market share of 44% in album sales and over 20% in online music sales.
In the future SM will no longer provide music tracks or material for Mnet, and all SM materials will be removed from the site/database.
Mnet states: ”We are trying our best for music distribution to continue through constant discussion”
Source/Translation: Starnews