10% of Universal Music Company is going in the hands of Tencent, the gaming giants

World’s largest Music Company Universal Music Group is going to sell off 10% of its shares to the Tencent Holdings Ltd from Vivendi SA. The deal is under negotiation as of now. For around $3.36 billion, the Chinese internet giant is going to buy the share of the music company, marking its heavy position in the global record industry.

The America based music corporation, Universal Music Group, is a secondary French media mix Vivendi. Abbreviated as UMG ( as in Universal Music Group), the headquarters of the music company is placed at Santa Monica, California. Aside ‘Sony Music’ and ‘Warner Music Group,’ UMG is accepted to be one amongst the ‘Big Three’ music companies. Some of the notable artists from India associated with Universal Music Company are A. R. Rahman, Arijit Singh, Alka Yagnik, Asha Bhosle, Bhupinder Singh, Adnan Sami, Falguni Pathak, etc.. Some of the American artists associated with the same is Taylor Swift, Rihanna, Lady Gaga, Elton John, Kanya West, Adele, etc..

The logo of Universal Music Group

Tencent Holdings Limited is a multinational company based in China which was founded in the year 1988. The company secondarily specializes in different internet-related products and services, artificial intelligence, and technology. Primarily, they are into games (PUBG or the Player Unknown Battleground is a product of Tencent). The products are marketed both on the inner boundaries of China and also across the globe. The headquarters of Tencent is a twin tower named Tencent Sea Front, is located in the district of Nanshann Shenzhen.

The logo of Tencent

Vivendi, the French media conglomerate declared on Tuesday about the negotiation valuation of UMG’s 10% stake. Vivendi and Tencent are familiar with each other for quite a duration now. Back in the year 2017, Tencent had struck an agreement extending over a few years, of making itself a distributor of UMG music in China. The CEO and chairperson of UMG said that this development is exciting for both Vivendi and itself and reflects the impact and success of their hard work and strategy.