Breakingviews - Tencent is stuck in a losing battle with Beijing [Reuters]
Tencent Music Entertainment Group American Depositary Shares, each representing two Class A Ordinary Shares (TME)
Last tencent music entertainment group american depositary shares, each representing two class a ordinary shares earnings: 3/16 04:15 pm
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Source: Reuters
Breakingviews - Tencent is stuck in a losing battle with Beijing - Reuters 3 Min Read HONG KONG (Reuters Breakingviews) - Tencent is stuck in a losing battle with Beijing. A year after a video-games crackdown hit the web giant, its $21 billion music-streaming arm may be under scrutiny from regulators. Pony Ma’s ambitions of building an entertainment empire are looking a little more fragile. It’s a reminder that China’s tolerance of its tech champions is waning. Details of the investigation are still sketchy. Reports from legal publication MLex and Bloomberg, though, suggest the antitrust watchdog is examining exclusive licensing deals between Tencent Music Entertainment Group and major record labels. It’s a frowned-upon practice, but not uncommon in China’s cutthroat music-streaming sector: industry officials in 2017 had already warned against it. Rivals are now accusing Tencent Music, the market leader, of re-licensing those rights at unfair rates. Shares of the U.S.-listed subsidiar
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TME
Earnings
- 11/12/24 - Miss
TME
Sec Filings
- 11/12/24 - Form 6-K
- 10/15/24 - Form 6-K
- TME's page on the SEC website