China’s Tencent Buys Further 10% Of Universal Music Group

China finally usurped North America as the world’s biggest box office territory in 2020, generating an estimated $3 billion in ticket sales compared with about $2.28 billion stateside. All it took was a global pandemic.

Rebecca Davis editorAlibaba Group announced Tuesday that it will close down its streaming platform Xiami Music on Feb. 5, as it struggles to keep up with competitors Tencent Music and NetEase in China’s competitive digital music sector.Xiami Music will cease operations due to “business development-related adjustments,” pivoting to become more of a music industry service provider, the company said in an official statement posted to social media, thanking its fans.

Sen. David Perdue, R-Ga., has accused his opponent in next week's runoff election, Democrat Jon Ossoff, of lying by failing to disclose his business ties to the Chinese Communist Party.

Gordon Chang says the U.S. "absolutely" should have a stronger policy to push back on China amid unconfirmed intelligence the country put a bounty on American troops in Afghanistan.

Rebecca Davis editorFormer NBA superstar Michael Jordan still doesn’t own the rights to his own name in China, but at least he’s just won a bit of pocket money heading into 2021.In the latest installment of Jordan’s years-long saga of trademark suits, a Shanghai court ruled Wednesday that a Chinese sportswear and shoe manufacturer that has used his name as its brand for decades did so without authorization and with the intention to “mislead” consumers.

Federal government officials are working to declassify uncorroborated intelligence recently reviewed by the president that suggests China may have offered a bounty for U.S. troops in Afghanistan, a senior Trump administration official  confirmed to Fox News.

China is looking to new, modern methods in its campaign of patriotic education, according to reports.

James McClain Elon Musk is officially no longer a Los Angeles homeowner. The Tesla and SpaceX tycoon began 2020 with six Bel Air houses to his name, but in June he sold the largest of them for $29 million to Chinese billionaire William Ding.

Slash has said he’s optimistic that 2021 will see new releases from both Guns N’ Roses and his band with Myles Kennedy.The guitarist said he’s recently been working with bassist Duff McKagan on material expected to form the first new Guns N’ Roses album since 2008’s notoriously delayed ‘Chinese Democracy’.A follow-up to 2018’s ‘Living The Dream’, which would be the guitarist’s fifth solo album and fourth billed as ‘Slash featuring Myles Kennedy and the Conspirators’, could also be on the cards,

Patrick Frater Asia Bureau ChiefChinese social media firm Kuaishou and post-production and VFX company Motion Magic Digital Entertainment have both taken further steps towards initial listing of their shares.Kuaishou, which may be the world’s second most downloaded video sharing app after Bytedance’s TikTok/Douyin, is reported to have set a date and target price for its previously announced IPO in Hong Kong.

AMC Entertainment Monday unveiled plans to change its board structure in an agreement with majority shareholder Wanda America Entertainment, a division of Dalian Wanda Group of China.

Elsa Keslassy International CorrespondentStrand Releasing has acquired all North American rights to Anthony Chen’s “Wet Season,” which represents Singapore in the Oscar race for best international feature film.The movie world premiered in the Platform section at the Toronto International Film Festival, and is being represented in international markets by Memento Films International.Penned and directed by Chen, “Wet Season” revolves around a Chinese language teacher whose marriage and school