Facebook (FB.O) changed its name last week to Meta Platforms Inc to signal its focus on the metaverse, which it thinks will be the successor to the mobile internet.
Vivendi (VIV.PA), the French media conglomerate, is spinning off Universal Music Group, the largest part of its business and the label behind singers such as Taylor Swift, in a listing on the Euronext stock exchange in Amsterdam.
President Xi Jinping has called for China to achieve “common prosperity”, seeking to narrow a yawning wealth gap that threatens the country’s economic ascent and the legitimacy of Communist Party rule.
China on Monday introduced new rules that limit the amount of time under-18s can spend on video games to three hours a week, a move it said was necessary to combat gaming addiction.
China’s Tencent Holdings (0700.HK) said on Wednesday that the internet industry should brace for more regulations and uncertainty, but it believed Beijing ultimately wanted to forge a long-term sustainable path for the sector.
China’s months-long regulatory crackdown on an array of private companies has unsettled tech upstarts as well as decades-old firms, ushering in a new, uncertain environment.
Tencent Music Entertainment Group (TME.N) said on Monday China’s copyright rules were unlikely to have a big impact on its online subscriptions, and its chief executive believes regulators want to promote healthy development of the music industry.
Any veteran investor will tell you that financial markets overshoot when trouble hits, but what if that market is the world’s second-largest economy and the government has decided the rules of the game have changed?
Fretting about unprecedented regulatory heat for China’s tech sector, some companies are no longer waiting for any official reprimands that may or may not be forthcoming.
China’s market regulator on Saturday said it would bar Tencent Holdings Ltd (0700.HK) from exclusive music copyright agreements and fined the company for unfair market practices in the online music market after its acquisition of China Music Corporation.