China’s Tencent Reaches Profit of $13 Billion Despite Struggle

By Jazz Tangcay

The New England Patriots plane is flying much-needed coronavirus crisis medical supplies to Boston from China, CBS Boston reports. A Patriots spokesperson said the team's Boeing 767 went to Shenzhen, China Wednesday to pick up 1.2 million N95 masks, and it's now on its way back to the U.S.

French entertainment and telecom conglomerate Vivendi said Tuesday that it has closed its sale of a 10 percent stake in Universal Music Group to a consortium led by Chinese online giant Tencent. It confirmed the deal was based on an enterprise value of €30 billion, or $33 billion at current exchange rates, compared with $33.6 billion when the transaction was announced at the end of 2019.

French entertainment and telecom conglomerate Vivendi said Tuesday that it has closed its sale of a 10 percent stake in Universal Music Group to a consortium led by Chinese online giant Tencent.It confirmed the deal was based on an enterprise value of €30 billion, or $33 billion at current exchange rates, compared with $33.6 billion when the transaction was announced at the end of 2019.

By Jake Kanter

Vivendi has closed the sale of 10% of its subsidiary Universal Music Group to a consortium led by the Chinese powerhouse Tencent. The deal, which was signed three months ago, values UMG for €30 billion.

By Dino-Ray Ramos

The prime minister on Monday evening announced new stringent measures to limit activity in the UK, and although it wasn’t specifically labelled, it’s fair to say the region is now under a ‘lockdown’.

A man from Perth currently working in China has sent an encouraging update back to a Fair City mental health organisation.

China’s main state-owned distributor plans to issue a batch of half a dozen films, from which cinemas will keep all income, in order to get the country’s exhibition sector back on its feet after long closures due to coronavirus, it has said.

“We can’t stay closed forever"

Research by Chinese ticketing agency Maoyan appears to show that Chinese people have not lost their taste for feature films during the recent coronavirus-enforced closure of cinemas.

Tencent Music Entertainment, China’s leading online music conglomerate, increased revenues and profits in its 2019 financial year. That follows growth in the number of paying subscribers and their average spend with the company.

Tencent Music Entertainment, China’s leading online music conglomerate, increased revenues and profits in its 2019 financial year. That follows growth in the number of paying subscribers and their average spend with the company.

Mostly unseen in the United States, music streaming company Tencent Music Entertainment continued to prove it’s a formidable force by improving revenues 34% to $3.65 billion (25.43 billion Renminbi) in 2019. Net income jumped 126.7% to $664 million.

As Hollywood scrambles to stay active while preventing the spread of coronavirus, one international studio is ready to send people back to work — in China.