Alex Webb, Columnist

Lady Gaga’s Label Finally Finds a Chinese Bandmate

Vivendi selling a stake in Universal Music to Tencent unlocks value, but more deals may be hard to come by.

August 6, 2019 at 12:53 PM UTC

Alex Webb is a correspondent for Bloomberg Quicktake. He previously covered the technology, telecoms and media industries in London, San Francisco and Munich.

Lady Gaga’s label unlocks value in China.
Photographer: Frazer Harrison/Getty Images North America

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Vivendi SA’s seemingly discordant search for an investor in Universal Music Group seems finally to have struck a positive note.

The French media conglomerate is in preliminary talks to sell a 10% stake in the world’s biggest record label to Chinese tech giant Tencent Holdings Ltd., the Paris-based firm said on Tuesday. The deal would give the star asset – whose stable of artists include Lady Gaga, Taylor Swift, Kendrick Lamar and U2 – an equity valuation of 30 billion euros ($34 billion).