Tencent Music shares fell 1.5% in premarket trading.

Tiger Newspress2021-07-12

Chinese regulators are set to order Tencent Holdings Ltd. to give up exclusive rights to music labels, Reuters reported, citing people with knowledge of the matter.

Tencent Music has long held a commanding lead in Chinese music through exclusive rights to a major chunk of Universal Music Group, Sony Music Entertainment and Warner Music Group Corp.’s catalogs, which it then sublicenses to smaller platforms including those operated by NetEase, Alibaba and Xiaomi Corp. That dominance was weakened when NetEase struck deals to directly license songs from Universal and Sony.

The regulator on Saturday blocked Huya Inc.’s proposal to acquire rival DouYu International Holdings Ltd., killing a deal that would have helped cement Tencent’s lead in video game-streaming.

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精彩评论

ZZX86
2021-07-14
ZZX86
Oh dear
JunLong
2021-07-13
JunLong
Let's go
Deonc
2021-07-13
Deonc
TME is good company, but was effected by negative news.But the company still operate in business as per normal and customer still growing.Ignore the short term volatility and if you can load up on the dips. Good company will definitely rise in the long run so hold strong. Please like and comment. if you agree.
Simon2021
2021-07-12
Simon2021
Lose lots of money on it
7427d960
2021-07-12
7427d960
Omg

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