Chinese giant snaps up Beatles

Original article by James Dean
The Australian – Page: 3 : 2-Jan-20

A consortium led by Chinese internet company Tencent has signed a deal to buy 10 per cent of Universal Music Group, with an option to increase its stake to 20 per cent within a year. UMG, which is the world’s largest music label, is a unit of French company Vivendi, which also owns advertising group Havas and pay-TV company Canal+. The deal gives the Tencent-led consortium access to the back catalogues of Queen and the Beatles, along with artists such as Adele and Taylor Swift.

CORPORATES
TENCENT HOLDINGS LIMITED, UNIVERSAL MUSIC GROUP, VIVENDI SA, HAVAS, CANAL PLUS SA

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