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Roehl Niño Bautista · · 1 min readReport: China to ask Tencent Music to give up exclusive music rights
“China’s antitrust regulator is set to order the music-streaming arm of Tencent Holdings to give up exclusive rights to music labels which it has used to compete with smaller rivals,” reported Reuters, citing two people with knowledge of the matter.
Details:
- Tencent Music holds exclusive deals with global labels and popular artists to stream their music in China.
- The State Administration of Market Regulation (SAMR) will also slap Tencent with a 500,000 yuan (US$77,150) fine for anomalies in its acquisition of apps Kuwo and Kugou.
Dive deeper:
- Over the weekend, the Chinese regulator blocked Tencent’s plan to merge video game-streaming platforms Huya and DouYu.
- This is just the latest in a spate of government-backed actions against Chinese tech companies with SAMR at the forefront. (Read: How China has been clamping down on big tech empires)
Editing by Collin Furtado and Jaclyn Tiu
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