Tencent Music Entertainment Group is speculated to be pursuing an acquisition of Chinese podcast leader Ximalaya for an estimated $2.4 billion. While Reuters has yet to receive confirmation from relevant parties and anticipates a response within weeks, Chinese news source CB.COM.CN has reported that discussions for this transaction began two months ago. Ximalaya, which claims to have over 300 million monthly users, originally launched in the U.S. market in early 2019, suggesting significant user engagement and potential synergy with Tencent Music's extensive platform.
Tencent Music is speculated to acquire Ximalaya for $2.4 billion, fostering a competitive landscape in Chinaâs audio platform market. Confirmation is pending.
Chinese news outlet CB.COM.CN corroborated the acquisition rumors, stating the deal was initiated two months prior, though it remains unverified by involved parties.
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