What is the relationship between Universal Records and Shangteng Entertainment?

SMG, the full name of Shanghai Wenguang Media Group, has all channels except educational TV in Shanghai. Coupled with radio and print media, it can be said that it has monopolized the media market in Shanghai.

Shangteng Entertainment and Dragon TV are its subsidiaries, which are invested by SMG.

Among them, Shangteng Entertainment is jointly invested by SMG and Universal.

It is a cooperative relationship with Universal. To put it bluntly, it is the same as Hunan Satellite TV and Hetian Yue Company ~ ~ ~