Tencent Music Entertainment Group Completes $1.26 Billion Acquisition of Ximalaya

Tencent Music Entertainment Group (TME) has completed its acquisition of Ximalaya Inc., one of China's leading online audio platforms. The transaction, which was announced in June 2025, was finalized on May 18, 2026. The acquisition consideration consists of up to $1.26 billion in cash and up to 175,288,891 Class A ordinary shares of TME. Following the closing, Ximalaya has become a wholly-owned subsidiary of Tencent Music Entertainment Group. This strategic acquisition strengthens TME's position in China's online audio entertainment market by combining its music streaming leadership with Ximalaya's podcast and audio content platform.