RUMOR MILL
Tuesday, July 10, 2018
CHINA'S TENCENT TO LAUNCH U.S. IPO
Without providing a time frame or any details, Chinese conglom Tencent announced on Monday that it will spin off its music streaming unit via an IPO on a U.S. stock exchange.
The Stock Exchange of Hong Kong Limited has accepted Tencent’s proposal to spin off its Tencent Music platform in China. Tencent has a market value of around $480b; its music division is said to be valued at around $30b.
Tencent has exclusive deals with Sony Music, Universal Music Group and Warner Music Group, and is allowed to cherry pick songs that other services in China are allowed to stream. It has about 600m users, 15m of whom are paying subscribers.
VMAs BEAMING BACK
TO THE BIG APPLE Getting back to where they once belonged (4/24a)
THE COUNT: ALL THE DESERT'S A STAGE
Jon Wayne is rolling over in his grave. (4/24a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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A CHORUS OF PRAISE: IVORS 2024 NOMSrumor mail
