Tencent Music reportedly nears acquisition of troubled audio platform Ximalaya at discounted valuation

News Source : TechNode
News Summary
- Tencent Music Entertainment Group (TME) is reportedly close to acquiring Ximalaya, China’s largest audio content platform
- The proposed deal, discussions around which started two months ago, sees Ximalayas valuation significantly reduced
- The move comes as Ximalayan struggles to maintain growth amid a stagnating audio industry
Tencent Music Entertainment Group (TME) is reportedly close to acquiring Ximalaya, Chinas largest audio content platform, following months of negotiations, according to multiple Chinese media outlets [+929 chars]