BIG 3 CHINA giant with Spotify link buys chunk of Universal

UPDATE, 31/12/19 - DEAL CONFIRMED

https://www.theguardian.com/business/2019/dec/31/universal-music-sells-stake-to-chinese-giant-tencent

I've seen this story pop up on a couple of sources - the R Stone feature is a fantastic overview of the complex impact of China on the global market, and specific detail on share deals.

Share deals isn't a phrase likely to get many hell yeah, but this is a picture of how the mega-conglomerate pantheons render our diverse world a simple space and place for their capitalistic ventures. I'd no idea some $430bn Chinese megacorp did a 10% ownership swap with Spotify (so Spotify doesn't challenge their 85% share of China's streaming market). If that bewilderingly colossal conglomerate, TenCent, buys 10% of Universal that makes the big 3 combined worth $85bn. A sixth of this Chinese conglomerate. Simply wow.

It could give Universal a Disney-sized lead in the global market too - their artist Taylor Swift just became the 1st non-Chinese act to gain 1m equivalent album sales (in a week if I remember right).

Lets hope it boosts ed Sheeran sales too, as more people listening to his awesome blandness is just what this world needs

https://www.rollingstone.com/music/music-features/tencent-entertainment-music-business-universal-spotify-885297/