It's hard to be an idol

Chapter 302
The SM company clearly expressed their intention to renegotiate the contract with Xu Lai. Xu Lai returned to Seoul from Los Angeles and brought his team to stand in front of SM company executives. In fact, it was Kim Youngmin and Xu Lai. Major shareholders and managers like Li Xiuman sat in the front seats, Xu Lai sat opposite them, and his agent and lawyer team were beside him.

In fact, being able to sit together is already a message sent by SM Company, but bargaining is a natural thing before negotiating and signing a contract. Of course, these are left to professionals. Seo Rae chatted with Kim Young Min and Lee Soo Man chat.

Kim Young-min and Lee Soo-man actually have nothing to say to Seo. There is no doubt that Kim Young-min and Lee Soo-man appreciate Seo Rae from the bottom of their hearts, whether it is their achievements as a singer or as a person who is now with them. For those sitting at the negotiating table, the term "formidable young people" is really appropriate at this time.

It may be difficult to calculate how many artists SM has sanctioned for leaving the company. Even Xu Lai’s three compatriots and good seniors are like this. It is okay to leave, but at a price. SM’s legal department is not Vegetarian.

But when Xu Lai came here, he really pinched SM's weakness - the stock price.After all, SM company has been listed for many years, and most of the shares are held by the two men opposite Xu Lai, but now SM company is not owned by one of them, but by a large group of people.Why did Lee Soo Man sit down with President Kim Young Min to discuss Xu Lai's contract?Isn't it because Li Xiuman can control Jin Yingmin now.

How much value Xu Lai's appearance brought to SM company, I guess he had to spit it out intact when he left. After all, for SM company, and even for the whole of South Korea, Xu Lai is the only one. This is why SM chose to compromise after only a short period of time with Xu Lai.

There is no impenetrable wall, no matter what, it is good that Xu Lai wants to change the contract with SM Company and continue to cooperate, it is better than the final death, the biggest loss will definitely not be Xu Lai, but them The major shareholder who holds the equity in his hand.

"Really, when I saw you last year, you were still cautiously waiting for your debut. When you came into my office to talk about your debut, you couldn't tell at all that you would be what you are today, so outstanding." Jin Yingmin said to Xu Lai with emotion.

"I have grown as much as I have experienced. From my debut to now, I have experienced all the setbacks I should have experienced." Xu Lai smiled.

He really grew up quietly, and then surprised everyone, especially Kim Youngmin and Lee Sooman now, no one could have imagined that a young man who has just debuted for a year and is only 21 years old can be so decisive, decisive and bold.

how to say?He is a material for big things (capitalist).

"Let's talk about business." Li Xiuman said next to him, Jin Yingmin nodded towards him, and then talked to Xu Lai about their business today, "The contract signed with you a year ago ended early, we are now Let’s talk about the new terms of the contract.”

Speaking of which, this is not what Xu Lai is good at. He consciously gave up his position to Hill. As Xu Lai's friend and employee, Hill is now undoubtedly considering Xu Lai's position. , much better than Lin Xuanjun.

"Actually, we don't have too many requirements here. We just make changes based on the unsuitable terms of the previously signed contract, and add a little new stuff." Hill talked eloquently, looking confidently at the two people in front of him. The person in charge of SM company.

His confidence comes from Xu Lai's weight.

"Tell me." Jin Yingmin nodded.

"First, the division of contract income needs to be changed. We hope that Xu can be respected enough in SM, instead of the insulting contract terms like before."

"We can give you a ratio of 7-3 at the most, you 7, the company 3, this is also the most top-notch preferential treatment contract in South Korea. However, we also have conditions."

Now the big stick GD's share is also 7-3, but the weight of YG and SM company is different, and the resources paid to artists must be different, among other things, at least SM company is relatively good in terms of music and fashion Awesome.

"But Seo isn't just a top star in South Korea."

"7.5-2.5."

"OK. Xu needs to set up his own studio, with the cooperation of SM, Universal Music and Xu..."

……

The negotiation went smoothly. Except for the necessary bargaining, there was really no smell of gunpowder. The SM company is really generous enough. Not to mention the unprecedented preferential treatment, the establishment in Xu Lai The studio also offered concessions.

Of course, although Xu Lai said that he established his personal studio, it must be inseparable from the shadow of SM Company and Universal Music. It's a small company, and SM Company and Universal Music are the shareholders in this company. Of course, Xu Lai must hold the absolute controlling stake in his hands, and the remaining equity is divided between SM Company and Universal Music. company.

It is basically impossible for SM Company to take the majority of the remaining shares. Universal Music is much richer than it, but SM Company also offered Xu Lai a condition that Xu Lai could not refuse.

At a valuation of 2000 million dollars, Xu Lai's personal studio paid 240 million dollars to buy 12.00% of the shares and became the temporary second shareholder, but the other things he paid were SM's parent company SM will give Xu Lai [-]% of the shares (valid within the contract period) as a gift after signing the contract, so After paying a large sum of money, Xu Lai was able to get [-]% of SM Company's shares.

To be honest, for a listed company, let alone [-]%, even [-]% of the shares are not easy to get. This undoubtedly shows SM's determination to tie up Xu Lai. Xu Lai also didn't want to completely break with SM Company. Under SM Company's sugar-coated shells, he became the new major shareholder of SM Company.

That's right, Xu Lai, who holds 5.00% of the shares, is already a major shareholder of SM Company, and he is still a major shareholder who has not been able to join the board of directors (generally those who enter the board of directors and have voting rights are above [-]%, so Xu Lai owns Just the identity of the shareholder and the right to dividends).

　It should be the most awesome singer contract in Korea that I can think of.

　　GD is only 7-3, and it's still YG's.

　　
　
(End of this chapter)