China Drops Antitrust Look Into Tencent Music

China’s antitrust probe into Tencent Music Entertainment has been suspended, Bloomberg reports.

The State Administration of Market Regulation told Tencent Music and the record labels in January that it had paused the investigation, which began in January 2019, according to the people who asked not to be identified because the government inquiry wasn’t public.

The agency didn’t state why it dropped the probe, according to Bloomberg.The reported dropping of the probe may have a side effect on NetEase, whose music arm has also bought exclusive rights with some artists and labels.

Full Content: Bloomberg

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