Music Business Worldwide News

1. Tencent Music close to $2.4 billion deal to acquire podcast firm Ximalaya – with a potential payday for Sony Music

   Sony Music acquired 4.6 million shares in Ximalaya for a consideration of USD $50 million in 2020

   Source

2. Confirmed: European competition regulator to assess UMG’s $775m acquisition of Downtown Music

   European Commission has accepted requests from Austria and the Netherlands to review the proposed acquisition

   Source

3. Universal Music Group’s Downtown acquisition to be probed by EU competition regulator (report)

   The FT reports the probe will be announced on Friday (April 25)

   Source

4. HYBE teams up with Spanish-language TV giant Telemundo on ‘first-of-its-kind’ competition and reality show to form a Regional Mexican group

   Members of the winning group will win $100,000 and a recording contract with HYBE Latin America

   Source

5. India’s Tips Music generated $9.1m in calendar Q1 as EBITDA grew 24% YoY

   Tips' operating EBITDA grew 24% YoY in calendar Q1 to reach USD $4.3m

   Source

6. Universal Music Group Nashville rebrands as Music Corporation of America

   Mike Harris to Lead as President & CEO, and Dave Cobb as Chief Creative Officer

   Source

7. Spanish society SGAE distributed $378m to its members in 2024, as annual collections reached record $422m

   SGAE reports highest annual revenues in 125-year history

   Source

8. Hannah Thompson-Waitt promoted to SVP, Commercial Strategy, at Virgin Music Group

   Exec previously served as Vice President of Commercial Strategy

   Source

9. Liv Lyons joins music law firm Russells as Partner

   Lyons joins from Lee & Thompson

   Source

10. Meta launches Edits, a rival to TikTok parent-owned CapCut, with plans for expanded music options, including ‘royalty-free’

    App is available on both iOS and Android

    Source