Warner Music and Sony Music Own $200 Million in Shares of Tencent Music in China

Tencent Music has just filed for it’s IPO in the United States. Within that filing it was announced that Warner Music Group (through its Chinese subsidiary) and Sony Music have bought $200m of shares in Tencent Music between them, in a deal that closed on 1 October.

“We believe that such transactions will help deepen our strategic cooperation with our major music label partners and better align our interests with theirs to create long-term value for our users and shareholders,” said Tencent.

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