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Tencent Music Paying $415 Million for Lazy Audio

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variety.com
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Patrick Frater Asia Bureau ChiefTencent Music Entertainment, which is already China’s biggest online music platform, is planning on getting bigger through the proposed acquisition of Lazy Audio.Among the current owners are financial investors, the company’s management and fellow Tencent group company China Literature.

New York Stock Exchange-listed Tencent Music has agreed to pay up to $415 million (RMB2.7 billion) in cash, plus post-acquisition equity awards to Lazy Audio’s management.“Founded in 2012, Lazy Audio is a comprehensive audio platform providing entertainment in the forms of audiobooks, Chinese comedy, podcasts and other radio shows to customers.

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