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.
Paying Subscriber Growth Lifts Profit at China’s Tencent Music
17.03.2020 - 09:15 / variety.com
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.
The New York Stock Exchange-listed group, which is poised to soon buy a chunk of Universal Music, said in in regulatory filing that revenue in its year to end December grew by 34% to RMB25.43 billion ($3.65 billion) and that operating profit increased by 127% to RMB4.62
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billboard.com
31.03.2020 / 15:25
Vivendi Wraps $3.3 Billion Sale of 10% UMG Stake to Tencent-Led Consortium
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.
deadline.com
31.03.2020 / 13:09
Vivendi Closes $3.3B Sale Of Universal Music Group Stake To China’s Tencent
By Jake Kanter
variety.com
31.03.2020 / 13:07
Vivendi Closes Sale of 10% of UMG to Tencent-Led Consortium
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.
wmagazine.com
31.03.2020 / 00:47
Rihanna Has Secretly Been Living Part-Time in Mexico
Photo courtesy of Getty Images.
dailyrecord.co.uk
28.03.2020 / 14:39
Coronavirus could peak in UK 'next Sunday' with lockdown 'lifted by summer'
The peak of the UK’s coronavirus outbreak could come as soon as next Sunday, new research claims.
manchestereveningnews.co.uk
26.03.2020 / 22:13
The Manchester United evening headlines: Ighalo offered mega Chinese deal as ex-Liverpool striker backs Grealish for Old Trafford move
Here are your Manchester United evening headlines on Thursday, 26 March.
billboard.com
26.03.2020 / 20:19
View From China's Live Music Industry: This Too Shall Pass
As Europe and the U.S. cope with spiraling numbers of coronavirus cases, Jim Wong has a message from China for his Western counterparts in the live music industry: There’s light at the end of the tunnel. For more than two months, Wong, the managing director of Live Nation Electronic Asia, operated under a China-wide lockdown that shuttered Live
manchestereveningnews.co.uk
26.03.2020 / 16:41
Manchester United fans make plea to Odion Ighalo following Shanghai Shenhua contract offer
Manchester United's hopes of signing on-loan Shanghai Shenhua striker Odion Ighalo on a permanent basis this summer may have suffered a possible blow after the Nigerian was offered a two-year contract extension by his parent club.
deadline.com
24.03.2020 / 20:23
Coping With COVID-19 Crisis: ‘I Will Make you Mine’s Lynn Chen Talks How SXSW Cancellation Affected Romantic Comedy Trilogy
By Dino-Ray Ramos
justjared.com
24.03.2020 / 07:45
Elon Musk Has Delivered A Ton of Ventilators To Aid With Global Health Crisis
Just days after Elon Musk said he was ready for Tesla to start making ventilators to combat and aid medical professionals in the fight against coronavirus, he’s delivered a handful already.
variety.com
19.03.2020 / 17:53
China Cinemas Will Bring Back Popular Movies to Kickstart Theatrical Reopening
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.
variety.com
18.03.2020 / 14:37
China’s Tencent Reaches Profit of $13 Billion Despite Struggle
Tencent, China’s social media, games and streaming giant, unveiled solidly normal financial results for its year to December. It signaled damage to the Chinese economy from the coronavirus outbreak, but the group is expanding the range of business activities that can be done online.