Tencent Music Entertainment Group (NYSE:TME) shares rose 5.4% on Tuesday following news that the company will acquire Chinese podcast platform Ximalaya in a $2.4 billion cash-and-stock transaction.

On June 10, Tencent Music Entertainment (TME) announced it had signed a merger agreement with Ximalaya and several other parties to acquire the long-form audio platform. Under the terms of the deal, ...

Tencent Music plans to acquire Ximalaya for $2.4bn, potentially enhancing TME's position in audio streaming and boosting pricing power and subscriber retention. The merger could be accretive ...

June 10 (Reuters) - China's Tencent Music Entertainment Group (1698.HK), opens new tab said on Tuesday it would buy domestic long-form audio platform Ximalaya (XIMA.N), opens new tab for about $2. ...

Ximalaya generated revenue of CNY 6.2 billion (USD 870 million) in 2023, roughly 20% of Tencent Music's. Its operating margin was just above breakeven (around 1.5%), ...

Ximalaya and Tencent Music did not immediately respond to Reuters' requests for comment. Tencent Music in talks to buy China's Ximalaya for $2.4 billion, Bloomberg News reports Skip to main content ...

Tencent Music Entertainment Group has agreed to buy Chinese podcasting startup Ximalaya Inc. for $1.3 billion in cash plus an issuance of stock, a deal that propels its ambition to become China ...

Tencent was one of its other investors alongside fellow Chinese tech giants Baidu and Xiaomi. Ximalaya also filed to go public in 2021 before later withdrawing from the planned IPO. It had grown from ...

Upon closing, Ximalaya will become a wholly owned subsidiary of Tencent Music, significantly expanding its footprint in China’s rapidly growing podcast market. Ximalaya, one of the country’s most ...

Tencent Music will acquire Chinese audio platform Ximalaya for $2.4 billion in cash and stock to expand its content library, attract more paying users, and boost its "Super VIP" program. This ...