Sony Music Entertainment announced a new digital distribution partnership in China with local internet firm NetEase. The move is the latest challenge to Tencent’s dominance in China’s music streaming market. Sony Music also said it will extend its existing digital distribution agreement with Tencent Music Entertainment in China, but Tencent no longer is the exclusive Chinese online distributor...
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Musk Puts $20 Billion Value on Twitter
Elon Musk offered Twitter employees stock grants at a valuation of roughly $20 billion, said a person familiar with an email Musk sent to staff, less than half what he paid to buy the company. It was a concrete acknowledgment of how much Twitter’s value has dropped since the deal—but it is still well above public market valuation levels for Twitter’s rivals.
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