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Tencent Music Entertainment Group – ADR (NYSE:TME) shares are trading lower on Tuesday.
In an SEC filing, the company revealed a major strategic move: the planned acquisition of Ximalaya Inc., a prominent online audio platform in China.
This step signals Tencent Music's intent to expand significantly beyond its core music streaming business.
The company has formally agreed to a merger deal, dated June 10, 2025, that will make Ximalaya a wholly owned subsidiary of Tencent Music.
This transaction is pending regulatory approvals and other standard closing conditions.
Also Read: Spotify Stock Smashes Records: Goldman Sees $200 Billion Music Streaming Market By 2035
Under the terms of the merger agreement, Ximalaya stakeholders, including equity holders and those participating in employee stock plans, are set to receive a payout package.
This includes approximately $1.26 billion in cash. Additionally, Tencent Music will issue Class A ordinary shares, representing up to 5.1986% of its outstanding shares, based on a reference date prior to closing.
A separate allocation of shares, up to 0.37%, is also designated for Ximalaya's founder shareholders, with these shares vesting in tranches after the deal concludes.
Before the merger is finalized, Ximalaya will undertake an internal restructuring of some of its business units.
According to Benzinga Pro, Tencent stock has gained over 27% in the past year.
Investors can gain exposure to the stock via MUSQ Global Music Industry Index ETF (NYSE:MUSQ).
TME Price Action: Tencent shares are trading lower by 0.81% to $18.37 at publication on Tuesday.
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Photo: Piotr Swat via Shutterstock
