Tencent Music Entertainment Group

Tencent will offer US$1.26 billion in cash and Class A shares representing up to 5.20 per cent of its total outstanding stock.

Telcos, Media & Tech

Tencent Music to buy Chinese audio platform Ximalaya for US$2.4 billion

Ximalaya counts Tencent, Baidu and Sony Group’s music entertainment unit as backers

The move comes as China is widely expected to lift its nearly decade-old unofficial ban on K-pop performances in mainland China.

Lifestyle

Tencent Music buys SM Entertainment stake in K-pop bet

South Korean entertainment stocks have been among the biggest gainers in the Korean equity market this year, driven by expectations they will be shielded from tariff wars

Tencent Music, controlled by Chinese tech firm Tencent Holdings, plans to use a combination of cash and shares for the acquisition.

Companies & Markets

Tencent Music in talks to buy Ximalaya for US$2.4 billion

This would accelerate its push to become China’s answer to Spotify Technology

Tencent Music said revenue fell 1.7 per cent to 7.16 billion yuan (S$1.3 billion) in the three months ended Jun 30.

Telcos, Media & Tech

Streaming cushions Tencent Music’s second quarter revenue fall

CHINA’S Tencent Music Entertainment reported a smaller than expected fall in quarterly revenue on Tuesday (Aug 13), cushioned by an increase in paying subscribers at its music streaming platforms.

Tencent and its controlled entity Tencent Music will buy the stake through a combination of cash and a minority stake in music streaming app JOOX Thailand, valuing GMM Music at US$700 million.

Companies & Markets

Tencent, Tencent Music to pick up 10% stake in Thailand's GMM Music for US$70 million

GMM Music is valued at US$700 million

The audio entertainment platform reported revenue of 6.77 billion yuan (S$1.26 billion) for the quarter ending March 31.

Companies & Markets

Tencent Music beats quarterly revenue estimates

The company has capitalised on its position as the largest Chinese music-streaming platform with an attractive licensed music library

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