Bromley Speaks to Rolling Stone on Tencent’s Proposed Bid for Stake in Universal Music Group

Will Tencent’s Hunger to Own the Music Business Stop at Universal and Spotify?
– Rolling Stone

Manatt entertainment transactions and finance practice leader Jordan Bromley spoke with Rolling Stone on Tencent Music Entertainment’s bid to buy a minority stake in Universal Music Group. Bromley said he is “really excited” about the deal and that it could be a strategic alignment between two companies in the East and West. “Should this deal go through, I imagine that Universal artists will naturally get preferential treatment [on Tencent services] based on the greater financial reward Tencent will receive when that happens,” he said. “It looks like a strong synergy strategy.” Bromley also discussed potential responses to the deal from other music companies and changes to copyright law in China.

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