China’s Tencent said to be in talks to buy stake in Warner Music

Photo: REUTERS/Jason Lee/File Photo

Chinese internet giant Tencent Holdings Ltd is in talks to invest $200 million in Warner Music Group, ahead of the record company’s slated initial public offering next week, the Wall Street Journal reported on Friday.

Warner Music is also working to line up institutions that, along with Tencent, would serve as anchor investors contributing a total of more than $1 billion toward a fundraising goal of as much as $1.8 billion, the report added, citing people familiar with the matter.

The listing by the world’s third-largest recording label, home to artists such as Cardi B, Ed Sheeran and Bruno Mars, could potentially be the largest New York IPO so far in 2020.

Warner Music in March had delayed its IPO as the COVID-19 pandemic rocked capital markets and slammed the brakes on many listings.

The company is expected to price its IPO on June 2 with the stock then debuting on Nasdaq the following day under the symbol “WMG”.

Tencent was not immediately available for comment, while Warner Music declined to comment.

Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.