Tencent Holdings Ltd. to be ordered by China regulators to give up exclusive rights to music labels, in a continued crackdown against tech giants. — REUTERS
Chinese regulators are set to order Tencent Holdings Ltd. to give up exclusive rights to music labels, Reuters reported, citing people with knowledge of the matter.
The company will also receive a 500,000 yuan (RM323,640) fine for misreporting the acquisition of two apps, according to the report. The penalties are the result of an investigation by the State Administration of Market Regulation into affiliate Tencent Music Entertainment Group.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
