China antitrust: Beijing orders Tencent to end exclusive music licensing deals in a first for the country

Source: Tech – South China Morning PostTencent Holdings has been ordered to end its exclusive music licensing deals with global record labels within 30 days and has been fined 500,000 yuan (US$77,143) by China’s antitrust authorities, as the country’s most valuable technology company comes under scrutiny for its dominance in the country’s online music-streaming business.The music arm of the Shenzhen-based company must relinquish its exclusive music rights within the next 30 days, as well as its high prepayments and other copyright…Read More

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