Tencent Music reportedly nears acquisition of troubled audio platform Ximalaya at discounted valuation · TechNode

Tencent to pay a mountain of cash for Ximalaya

Sponsored by Magellan AI. Planning + insight = podcast growth. See how Boll & Branch did it. Discover what worked Chinese podcasting company Ximalaya is reportedly to be acquired by Tencent Music for $2.4bn, reports Bloomberg. (Spotify bought Anchor for just $140mn). Ximalaya, which claimed more than 303mn monthly active users in 2023, spent $100mn on a US expansion in 2019 (though it may not have done); the company tried to float on the NYSE, b…

Tencent Music reportedly nears acquisition of troubled audio platform Ximalaya at discounted valuation · TechNode

Tencent Music Entertainment Group (TME) is reportedly close to acquiring Ximalaya, China’s largest audio content platform, following months of negotiations, according to multiple Chinese media outlets. The proposed deal, discussions around which started two months ago, sees Ximalaya’s valuation significantly reduced, with company management reportedly signing off on the terms. The move comes as Ximalaya struggles to maintain growth amid a stagna…

Tencent Music in talks to buy podcasting company Ximalaya

A $2.4bn deal could make Tencent Music the latest giant in podcasting – in China at least. It is in talks to buy Ximalaya. The post is from Music Ally.