Tencent Music Entertainment (TME) may have to end the type of arrangements that have bolstered its competitiveness in the music streaming business. According to a Reuters report citing confidential sources, China’s antitrust regulator plans to order Tencent Music to end exclusivity deals with music labels. TME stock fell 4.19% on Monday to close at $12.34. Tencent Music has sought exclusivity agreements with music labels such as Warner Music Group (WMG), Sony Music Group (SONY), and Universal Music Group (UMG) to enable it to stay ahead of rivals.
https://www.tipranks.com/news/tencent-musics-label-exclusivity-at-risk-stock-falls-4-report
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