Tencent (0700.HKG) has signed an exclusive agreement with Sony Music Entertainment giving the Chinese internet firm exclusive rights to manage online distribution of the latter company’s music library on the mainland, The Wall Street Journal reported, citing Tencent Senior Executive Vice President Dowson Tong. The alliance comes on the heels of Tencent announcing other distribution deals […]
Category: Tech, Media & Telecom
Foreign nuclear outfits are struggling to stay in China as the country increasingly turns to local companies to manufacture parts for major projects, The Wall Street Journal reported. With the global nuclear industry focused on China three years after the Fukushima disaster in Japan, the government has used the heft of its huge market to […]
Chairman and executive director of Next Media Jimmy Lai announced on Sunday that he would resign from those positions, The Wall Street Journal reported, citing a filing to the Hong Kong Stock Exchange. Lai had also announced after his arrest during police clearance on Thursday of a main protest site in the city’s Admiralty district that he would step […]
Shares in Momo (MOMO.NYSE), a Chinese social media site backed by Alibaba (BABA.NYSE), rose 26% on the company’s first day of trading, Bloomberg reported. The shares jumped to $17.02 on Thursday after they were sold for $13.50. The company, which generates most of its sales through membership subscription fees, reported having 60.2 million monthly active users at the end […]
Taiwanese touch screen maker Wintek laid off more than 7,000 employees at its factory in Dongguan yesterday as over 200 mainland suppliers have spent the past week protesting unpaid debts they say total RMB230 million (US$37.25 million), South China Morning Post reported. One of the suppliers said that Wintek had closed suddenly and that there […]