Deals
Tencent Music Antitrust Probe Suspended by China Authorities
- Government agency was examining deals with record labels
- Tencent Music reported 35 million subscribers in November
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China’s antitrust authority has suspended a probe of Tencent Music Entertainment Group’s dealings with the world’s three largest record labels, according to people familiar with the matter, lifting a cloud hanging over that country’s dominant music streaming company.
The State Administration of Market Regulation told Tencent Music and the record labels in January that it had paused the investigation, which began in January 2019, according to the people, who asked not to be identified because the government inquiry wasn’t public.