 "Tencent, Chinese firm Tencent")
A Tencent-led consortium is taking a 10 per cent stake in Vivendi’s Universal Music Group, valuing the music label that houses Lady Gaga and The Beatles at ^30 billion ($34 billion) and giving the Chinese firm a global backstage pass.
The deal allows both companies to expand in a recovering global music market, giving Tencent more access to US artists while UMG can tap into the Asian market, including big-selling “K-Pop” Korean pop stars.
After months of talks, French media conglomerate Vivendi said on Tuesday it had finalised the sale of an initial 10 per cent of the
The deal allows both companies to expand in a recovering global music market, giving Tencent more access to US artists while UMG can tap into the Asian market, including big-selling “K-Pop” Korean pop stars.
After months of talks, French media conglomerate Vivendi said on Tuesday it had finalised the sale of an initial 10 per cent of the
