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ByteDance in Talks to Buy Stake in Mobile Games Company CMGE: Sources A successful transaction could make ByteDance CMGE's single largest shareholder. By Reuters | Updated: 22 December 2020 15:55 IST ByteDance has been relatively successful with casual mobile games that make money through advertising Highlights CMGE's second-largest intellectual property reserve in Chinese game firm ByteDance has a games division with around 2,000 employees China's ByteDance is in talks to buy into mobile games publisher CMGE Technology, four people with direct knowledge of t...

A Tencent Holdings-led consortium will acquire an additional 10 per cent of Universal Music Group, in a deal that values the world’s biggest music company at 30 billion euros ($36.8 billion). The purchase will bring Tencent’s holding in the music group to 20 per cent following a deal last year for a stake at the same valuation. UMG’s connection to the Chinese internet giant will help boost its expansion in Asia, and Tencent will also take a minority holding in UMG’s Chinese subsidiary, the label’s parent company, Vivendi SA, said in a statement on Friday. Vivendi will also sell a...

Author Bio Keith Noonan covers technology, entertainment, and other fields. Tencent (OTC:TCEHY) announced on Sunday that its acquisition of Leyou Technologies was on track to close after receiving approval from each company's shareholders. Leyou is the parent company of Digital Extremes, the Canada-based video game development studio known for Warframe. It also owns studios including Athlon and Splash Damage.  Leyou is expected to halt its trading on the Hong Kong Stock Exchange today, and its listing will then be withdrawn before the market opens on Dec. 23. Tencent...