Tencent Music Closes $2.6B Ximalaya Deal, Accelerating Shift to Full-Stack Audio Under Regulatory Conditions
Tencent Music has completed its RMB 18.6 billion ($2.6 billion) acquisition of Ximalaya, expanding from music streaming into podcasts, audiobooks, and long-form audio. China’s market regulator approved the merger with conditions limiting price increases, reductions in free content, and exclusive licensing, shaping the combined company’s monetization strategy.