3:14 am PDT, Tuesday, August 6, 2019

ariana grandeJamie McCarthy/Getty Images

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. 
View Markets Insider for more stories.

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

Join the conversation about this story »

NOW WATCH: Jeff Bezos is worth over $160 billion — here’s how the world’s richest man makes and spends his money

See Also: