Perfect pitch?: Tencent's QQ Music service will form a new digital music company with CMC.
HONG KONG: Chinese Internet giant Tencent Holdings Ltd announced a strategic merger with China's leading music-streaming company China Music Corporation to develop the digital music business in China.
The merger combined Tencent's QQ Music service with CMC to form a new digital music company, Tencent wrote in a statement. Tencent would become the majority shareholder of the new company, it added.
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