Brief: GMM Music Announces Strategic Partnership With Tencent Music Entertainment And Tencent

Tencent Music Entertainment

03/06/2024 07:12

June 3 (Reuters) - GMM Music:
    * STRATEGIC PARTNERSHIP WITH TENCENT MUSIC ENTERTAINMENT
GROUP AND
TENCENT
    * TME AND TENCENT WILL OBTAIN A 10% STAKE IN GMM MUSIC
VALUING CO
AT US$700 MILLION
    * PARTNERSHIP WILL INCLUDE AN INVESTMENT INTO JOOX THAILAND
    * COLLABORATION WILL STRENGTHEN GMM MUSIC'S SPIN-OFF PLAN
    * COLLABORATION WILL ENABLE GMM MUSIC TO EXPAND ITS
BUSINESS,
AMONG OTHERS

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 ((Reuters.Briefs@thomsonreuters.com;))