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3:14 am PDT, Tuesday, August 6, 2019
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Chinese internet giant Tencent is in talks to buy a 10% stake of Universal Music Group from Vivendi.
Vivendi announced the talks, saying the deal would be worth $3.36 billion, and Tencent would have a one-year option to acquire an additional 10% stake.
Ariana Grande, Lady Gaga, and Billie Eilish are some of the artists signed to one of the world’s biggest music labels.
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Tencent, the Chinese internet giant, is negotiating a 10% stake in Universal Music Group.
That’s according to Universal Music’s owner Vivendi, which said in a statement that the stake will be worth roughly $3.36 billion, and that Tencent could the option to purchase an additional 10% of the music label. See the rest of the story at Business Insider
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