Tencent In Talks To Buy 10% Of Universal From Vivendi For $3.3 Billion

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Chinese internet giant Tencent is set to buy a 10% stake in the Universal Music Group for $3.3 billion by Sam_L_Shead

SUZANNE CORDEIRO/AFP/Getty Images

Universal is the largest music group in the world, with artists such as Taylor Swift, Queen, Rihanna, and Jay Z. Hits from the Universal's library have been available on Tencent's music streaming service following a 2017 deal between the groups. Tencent is being given the option to double its stake in UMG at the same valuation in a year, should it wish to.

 

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Sam_L_Shead nuss

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