Telkom now has an own-branded music streaming service after reaching an agreement with Joox, owned by China’s Tencent, to launch the offering.
China’s antitrust regulator is set to order Tencent to give up exclusive rights to music labels that it’s used to compete with smaller rivals, two people with knowledge of the matter said.
China’s market regulator on Saturday said it would block Tencent’s plan to merge the country’s top two videogame streaming sites, Huya and DouYu, on antitrust grounds.
China has issued a sweeping warning to its biggest companies, vowing to tighten oversight of data security and overseas listings just days after Didi Global’s contentious decision to go public in the US.
China’s antitrust regulator is set to formally block Tencent Holdings’ plan to merge the country’s top two videogame streaming sites, Huya and DouYu, three people familiar with the matter said.
Tencent Holdings, which has lost more than a fifth of its market value in the past few months, now appears to be losing its biggest supporter: Chinese investors.
Tencent Holdings reported a 25% gain in quarterly revenue as China’s largest company sustained a boom in gaming and cloud that began during the Covid-19 pandemic.