Recent events
Recent events tied to this brand in public sources.
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2019
Tencent-led consortium announces agreement to acquire a 10% stake in Universal Music Group
Tencent announced that a consortium led by Tencent, comprising Tencent Music Entertainment and certain global financial investors, signed a share purchase agreement with Vivendi to acquire a 10% stake in Universal Music Group at a €30 billion valuation. The transaction was subject to regulatory approval and customary closing conditions; completion was expected in the first half of 2020.
2019
Court rules in Tencent Music’s favor in copyright dispute
The Shenzhen Qianhai Cooperation Zone People’s Court ruled in favor of Tencent Music in its dispute with NetEase Cloud Music over songs by Jay Chou. The court ordered the NetEase-related defendants to pay Tencent Music RMB 850,000 in economic losses and reasonable expenses for stopping the infringement, and dismissed Tencent Music’s other claims.