On February 27, 2023, the board of directors of GMM Grammy approved a major business restructuring of its music division.

This involved a spin-off, transferring all music-related assets, personnel, rights, obligations, and contracts to a newly established subsidiary.

The company was established with a registered capital of 4 million THB, with GMM Grammy holding 100% ownership.

Additionally, GMM O Shopping Co., Ltd. was designated as a non-listed major subsidiary operating a separate core business.

[5] On February 15, 2024, GMM Music unveiled a new logo as part of its preparation for business separation.

[7] On March 11, GMM Music held an extraordinary general meeting and approved its transformation into a public company.

[8][9] On May 31, the board of GMM Grammy approved the sale of 80,000,000 GMM Music shares (10%) to strategic investor Black Serenade Investment Limited, a joint venture between Tencent Music and Tencent from China, for $70,000,000 (approximately 2,570,827,000 THB).

They established G&LDH Co., Ltd. to enhance Thailand's music industry and artist management expertise, increasing company value.

This included the establishment of GMM Global Co., Ltd. on August 7 to support additional music ventures.

They also supported forming an Equity Joint Venture after one year of the contract's enforcement, pending shareholder approval.