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Tencent Barred From Exclusive Music Copyright Agreements

By Shai Oster
· · Source: Reuters

As China continues its antitrust crackdown on tech, Tencent was ordered to give up exclusive music streaming rights and pay a fine. The fine stems partly from Tencent’s failure to report to authorities the 2016 acquisition of China Music Corp. The company was fined 500,000 yuan($77,000). Reuters said that regulators claimed Tencent held more than 80% of music library resources after buying...

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