Tencent Music-Ximalaya deal receives conditional clearance in China
( May 12, 2026, 10:22 GMT | Official Statement) -- MLex Summary: China’s State Administration for Market Regulation said Tuesday it has conditionally approved Tencent Music Entertainment Group’s acquisition of online audio platform Ximalaya after finding the deal could restrict competition in China’s online audio and music-streaming markets. In a decision dated Monday, the regulator said the companies together held a 45 percent to 55 percent market share in 2024 and that the deal would strengthen market power, increase concentration and raise barriers to entry. SAMR imposed five behavioral remedies, including bans on exclusive audio copyright agreements and tying music and audio services to automakers. The companies also committed not to raise prices, reduce free-content offerings without justification or restrict creators from distributing content across rival platforms. The remedies could be reviewed for removal after five years.The decision follows. The proposal for additional restrictive conditions and undertakings is attached (in Chinese)....
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