Chinese media giant Tencent Holdings Limited is in discussions to buy 10% of Universal Music Group, UMG’s parent Vivendi has confirmed today (August 6). Tencent has made an offer which puts a preliminary equity valuation of €30bn ($34bn) on UMG o…
Category archives: Tencent
Goldman Sachs says 1.15bn people will pay for music streaming by 2030, as it ups industry forecast
‘Music In The Air’ update brings optimistic news for record companies
The post Goldman Sachs says 1.15bn people will pay for music streaming by 2030, as it ups industry forecast appeared first on Music Business Worldwide.
China’s Tencent Eyes 50% Stake In UMG
The major labels always have always feared that Spotify has ambitions to also become a record label. However reak that may or may not be, the streamer’s partner in China, Tencent music is in serious talks to acquire as much as 50% of Universal Music Group. ___________________________________ French conglomerate Vivendi…
AM BRIEF: Live Nation Goes Green, Parness Exts Spotify, Tencent Eyes UMG & More
FRIDAY 5.24.19
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Universal holds preliminary sale talks with Tencent – but is slow deal progress a danger sign?
Bloomberg report says ‘some private equity investors balk at the high price and slow pace of the deal’
The post Universal holds preliminary sale talks with Tencent – but is slow deal progress a danger sign? appeared first on Music Business Worldwide.
LiveXLive Announces Distribution Agreement With Tencent Video
LiveXLive Media has confirmed another major partnership. The global media company has announced a distribution agreement with the video arm of Chinese conglomerate Tencent Corp. The agreement grants Tencent Video the exclusive rights to distribute the …
Tencent Music [NYSE: TME] Stock Fell 11% Wednesday
UPDATE 2: Tencent Music [TME] stock took a hit Wednesday after the streamer’s first post-IPO report to investors included a $127 million quarterly loss. Tencent stock closed Wednesday at $16.66 USD, down $1.91 or 10.29% and fell another 1% in after hours trading. Investors were not happy, even though the…
Tencent Music’s Group Vice President Andy Ng stands down
Exec is a leading figure at China’s biggest streaming music company
The post Tencent Music’s Group Vice President Andy Ng stands down appeared first on Music Business Worldwide.
This May Not End Well… Top UMG Top Suitors Are A Streaming Service and A Private Equity Firm
If history is any guide, this may not end well… The two top suitors eyeing a $20 – $25 billion bid for a 50% stake in Universal Music Group are US investment firm KKR and China’s Tencent Music Entertainment Group. The news comes as UMG parent Vivendi interviews firms to…
THU. BRIEF: Tencent, KKR Eye Universal Music Bid • SXSW Adds Keynotes • Fender Next • More
THURSDAY 2.28.19
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