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Vivendi agrees Universal Music stake sale to Tencent consortium
2019-12-31 11:01:00| Telecompaper Headlines
(Telecompaper) Vivendi has agreed to sell 10 percent of its Universal Music Group (UMG) subsidiary to a consortium led by Chinese group Tencent, in a deal valuing the whole of UMG at EUR 30 billion. Tencent and Vivendi entered talks on the sale in August, just over a year after the plan for a stake disposal was first unveiled. The consortium, which includes Tencent, Tencent Music Entertainment and a number of financial investors, has also negotiated the option to acquire an additional 10 percent stake in UMG by 15 January 2021, at the same price and terms.
Tags: music
sale
universal
agrees
Mirriad announces in-video ad partnership with Tencent
2019-10-10 13:30:37| Digital TV News
Mirriad has announced an agreement with Tencent. The partnership will allow advertisers to reach targeted audiences by integrating branded content directly into entertainment programming without interrupting the viewer experience.
Tags: partnership
announces
invideo
announces partnership
Tencent revenue growth improves to 21% in Q2 as more games released
2019-08-14 15:05:00| Telecompaper Headlines
(Telecompaper) Tencent reported second-quarter revenues up 21 percent year-on-year to CNY 88.8 billion (USD 12.9 billion), accelerating growth from 16 percent in the first quarter. Its games business returned to revenue growth of 8 percent, and Tencent also benefitted from expansion in video streaming and payment services, offsetting a lowing ad market.
Tags: more
games
growth
released
Tencent set to buy 10% stake in Universal Music
2019-08-06 10:28:18| BBC News | Business | UK Edition
UMG's parent company Vivendi is in talks with the Chinese tech group over the deal.
Vivendi in talks to sell 10% stake in Universal Music to Tencent
2019-08-06 10:01:00| Telecompaper Headlines
(Telecompaper) Vivendi has entered into preliminary negotiations with Chinese group Tencent to sell 10 percent of Universal Music Group (UMG), in a deal that would give UMG a preliminary equity valuation of EUR 30 billion. Tencent would also have a one-year call option to acquire an additional 10 percent stake at the same price and terms, said the company.
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