NYSE:TMEEntertainment
Tencent Music Entertainment Group (NYSE:TME) In Talks For US$2.4 Billion Ximalaya Acquisition
Tencent Music Entertainment Group (NYSE:TME) has made headlines recently as it enters advanced negotiations to acquire the Chinese podcast startup Ximalaya for USD 2.4 billion. This strategic move is expected to bolster its presence in the audio streaming market. Over the last quarter, Tencent Music's share price rose 15%, a performance likely buoyed by the acquisition discussions, alongside a strong annual earnings report showing increased revenue and net income. However, a share buyback and...