China regulator bars Tencent from exclusive rights in online music
SHANGHAI (Reuters) – China’s market regulator on Saturday talked about it may bar Tencent Holdings Ltd from exclusive music copyright agreements and fined the company for unfair market practices in the online music market after its acquisition of China Music Corporation.
The Chinese authorities has been stepping up antitrust actions in present months in opposition to the nation’s huge tech firms, along with a file $2.75 billion prime quality on e-commerce giant Alibaba for collaborating in anti-competitive behaviour.
Tencent and Tencent Music Entertainment Group, the unit created from the acquisition, talked about they may abide by the selection and regulate to all regulatory requirements.
The State Administration Of Market Regulation (SAMR) talked about it had investigated Tencent’s actions in the online music broadcasting platform market in China, in which music copyright is the core asset, in a uncover posted on its official website.
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