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Funding RSS ↗Tencent Music completes Ximalaya acquisition, making it a wholly owned subsidiary
On 2026/5/18, Tencent Music announced formal closing of its Ximalaya acquisition. Equity securities held by relevant Ximalaya shareholders and employee share plans were canceled in exchange for up to USD 1.26 billion cash and up to 175 million Tencent Music Class A ordinary shares. Ximalaya became its wholly owned subsidiary.
Tencent Music plans full Ximalaya acquisition for USD 1.26 billion cash and equity
On 2025/6/10, Tencent Music announced plans to fully acquire Ximalaya for USD 1.26 billion cash, approximately CNY 9.06 billion, and no more than 5.1986% Class A ordinary shares. After four failed IPO attempts, Ximalaya was being sold to Tencent Music. Founder Yu Jianjun said sharing resources and advancing together was preferable to operating alone.