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

Image for article 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]

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