Tencent Music Entertainment Group Announces Acquisition of Lazy Audio News provided by Share this article Share this article SHENZHEN, China, Jan. 15, 2021 /PRNewswire/ -- Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE:TME), the leading innovative online music entertainment platform in China, today announced that it entered into a definitive agreement to acquire 100% equity interest of Shenzhen Lanren Online Technology Co, Ltd ("Lazy Audio", "Lanren tingshu"), a well-established audio platform in China, for a total consideration of RMB2.7 billion, primarily payable in cash, plus certain post-acquisition equity-settled awards to Lazy Audio's management team. The existing shareholders of Lazy Audio include China Literature Limited ("China Literature", stock code: 00772.HK), Lazy Audio's management team and other financial investors. The transaction is expected to close in the first half of 2021 subject to customary closing conditions.