Latest in Tencent Holdings

It’s the dog days of summer, but there are changes in the wind. The first festival to allow legal cannabis sales takes places this weekend; the biggest music company in the world is contemplating selling off a piece; the two biggest performing rights societies are trying to get the rules under which they are governed…

French media conglomerate Vivendi has entered into preliminary negotiations with Tencent Holdings which would see the Chinese giant make a strategic 10% investment in the share capital of Universal Music Group. The negotiations are based on a 100% equity valuation of UMG of 30B euros ($33.6B), its owner Vivendi said…

The China-based music streaming company Tencent Music Entertainment Group has raised $1.1 billion in an initial stock offering in the U.S. The company had hoped to raised as much as $1.23 billion through the sale of stock on the New York Stock Exchange, half of which was sold by the Tencent Music while the rest comes…

As Chinese gaming and social media behemoth Tencent Holdings contiues to make strategic moves in the content business, its publicly-listed e-publishing spinoff has made a key acquisition. China Literature is to acquire film and TV producer New Classics Media, whose Hello Mr Billionaire has made over $344M in a few…

Tencent Holdings, based in Shenzhen, China, is Asia's most valuable corporation, and the world's biggest and most valuable gaming and social media company. In 2017 it reported a net income of $11.5 billion off revenues of $38 billion, and more than two-thirds of the Chinese population use its messaging services WeChat…

China’s largest music streaming company, Tencent Music Entertainment Group, is poised to create an initial public offering (IPO) and is negotiating with several banks for underwriting. The Wall Street Journal reported that the successful debut of Spotify Technology SA is the motivator for Tencent. If all goes as…

Tencent Holdings is leading a consortium of investors to acquire a 14% equity stake in Wanda Commercial Properties Co, the flagship subsidiary of Wang Jianlin’s Dalian Wanda Group, for RMB 34B ($5.37B). The move by Tencent, Suning Holdings, JD.com and Sunac China Holdings to buy out minority private investors will…

The National Football League and China’s Tencent Holdings have entered a three-year pact to make Tencent Sports the exclusive digital streaming media partner of the NFL in the Middle Kingdom. The deal gives the Chinese giant rights to air pre- and regular-season games as well the playoffs, the Pro Bowl and the Super…

Endemol Shine UK has added entertainment and factual producer Sharp Jack TV as a new label inside the group. Ex-ITV Studios Creative Heads Elliot Johnson and Amanda Wilson, who founded the company in 2011, are joining ESUK as Joint Managing Directors of Sharp Jack. Credits include series Four Heads, Scorchio and Queer…

China’s Alibaba Pictures Group and Tencent Holdings have led a RMB 2.5B ($360M) funding round in Bona Film Group, valuing the leading Chinese production and distribution outfit at $2.2B. The investment is designed to help the company expand. It also comes following Bona’s delisting from the NASDAQ last April. At the…

Chinese online giant Tencent Holdings is setting up a new film production business, Penguin Pictures. According to local media reports, the company, which competes with Alibaba and Baidu in the Middle Kingdom space, said the banner will concentrate on online dramas with minority investment in some 10-15 movies per…

Patrick Liu — the president of Alibaba’s Digital Entertainment Unit — was detained in China a few days ago. Officials are concerned about events that took place during the time Liu ran the video division of investment holding company Tencent, and it “has nothing to do with Alibaba," the e-retailer says. Tencent…