Tencent in Talks to Acquire Stake in Warner Music: Report
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variety.comBy Jem Aswad Senior Music Editor Tencent Holdings, is in talks to buy a stake in Warner Music Group as part of the record company’s initial public offering, the Wall Street Journal reported Friday.
The paper citied “people familiar with the matter” as saying the Chinese internet giant is discussing an investment of $200 million ahead of WMG’s IPO, which was announced Tuesday and is taking place next week, according to WSJ.
WMG is also lining up other potential partners that could serve as anchor investors along with Tencent, which would contribute in excess of $1 billion toward a fundraising goal of as much as $1.8 billion, the sources reportedly said.
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