Chinese Regulators Torpedo Tencent Music Entertainment
Shares of Tencent Music Entertainment (NYSE: TME), the largest music streaming company in China, recently plunged after Bloomberg claimed that China's antitrust regulators had been investigating the company since January.
A government agency has reportedly been looking into TME's exclusive licensing deals with the three largest record labels in the world: Access Industries' Warner Music, Sony (NYSE: SNE) Music Entertainment, and Vivendi's (OTC: VIVHY) Universal Music Group.
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Source Fool.com
