Tencent Music Acquires Stake In Warner Music Group

Tencent Buys Stake

TENCENT MUSIC ENTERTAINMENT GROUP disclosed in SEC filings on FRIDAY (6/12) that it has taken a 1.6% stake in WARNER MUSIC GROUP. The eight million shares were purchased in two transactions on JUNE 3rd, as WMG debuted on NASDAQ after its IPO and put 77 million of its Class A shares on the market.

TENCENT MUSIC is part of CHINA-based TENCENT HOLDINGS LTD. It also holds stakes in SPOTIFY and UNIVERSAL MUSIC GROUP.

« see more Net News