China’s Antitrust Regulator Orders Tencent Music to Give Up Exclusive Rights to Music Labels
Posted on 07/12/2021
China’s State Administration of Market Regulation (SAMR), the country’s antitrust regulator, ordered Tencent Music Entertainment Group to give up its exclusive rights to music labels. Tencent Music Entertainment Group is the music streaming unit of Tencent Holdings Limited. SAMR issued a 500,000 yuan penalty to Tencent Music Entertainment Group for misreporting the acquisition of two apps.