Bearing all that in mind, Tencent Music is putting up a combination of cash ($1.26 billion) and stock to purchase Ximalaya, the aforesaid disclosure shows.

Ximalaya, a major force in spoken-word content, is set to become a subsidiary of TME. By Marc Schneider Industry News Editor Tencent Music Entertainment, China’s fast-growing streaming platform ...

Tencent Music Entertainment Group (NYSE:TME) shares rose 5.4% on Tuesday following news that the company will acquire Chinese podcast platform Ximalaya in a $2.4 billion cash-and-stock transaction.

Ximalaya generated revenue of CNY 6.2 billion (USD 870 million) in 2023, roughly 20% of Tencent Music's. Its operating margin was just above breakeven (around 1.5%), ...

Tencent Music Entertainment Group has agreed to buy Chinese podcasting startup Ximalaya Inc. for $1.3 billion in cash plus an issuance of stock, a deal that propels its ambition to become China ...

It will also issue shares to Ximalaya’s founder investors not exceeding 0.37% of its total share count. Tencent-backed China Ruyi raises $302 million in convertible bonds.

Ximalaya has filed to list in Hong Kong after reportedly being pressured by Chinese government officials to withdraw an earlier U.S. IPO application in 2021.

Tencent Music plans to acquire Ximalaya for $2.4bn, potentially enhancing TME's position in audio streaming and boosting pricing power and subscriber retention. The merger could be accretive ...

Tencent Music (TME) plans to acquire Ximalaya Inc., a Chinese audio platform, for $1.26 billion cash and stock. The deal expands TME's content beyond music into podcasts and audiobooks, awaiting ...

The move makes Ximalaya the only certified podcast hosting platform for Apple Podcasts in mainland China. According to sources from Ximalaya, the platform currently hosts more than 26,000 podcast ...