Tencent Music completes $2.6 billion acquisition of podcast platform Ximalaya
Tencent Music Entertainment said it has completed the full acquisition of Chinese audio platform Ximalaya in a deal valued at about 18.6 billion yuan ($2.6 billion), closing one of the country’s largest online audio mergers. Under the agreement, Ximalaya shareholders and employee stock ownership plan participants received up to $1.26 billion in cash and as many as 175 million Tencent Music Class A shares. China’s market regulator approved the deal on May 12 with five conditio
Tencent Music Entertainment has finalized its acquisition of Chinese podcast platform Ximalaya for approximately $2.6 billion (18.6 billion yuan). This significant transaction, one of China's largest online audio mergers, saw Ximalaya shareholders and employee participants receive a combination of cash and Tencent Music shares. The deal, which received regulatory approval with specific conditions, took nearly a year to conclude. The acquisition aims to broaden Tencent Music's offerings beyond music streaming to include podcasts, audiobooks, and other long-form audio content.
This acquisition significantly expands Tencent Music's footprint in China's rapidly growing audio market, positioning it as a major player in diverse audio content beyond music.
📌 Kaynak
Bu özet TechNode kaynağından otomatik derlenmiştir. Tamamı için orijinal habere gidin.
Orijinal haberi oku →