Tencent Music acquisition of Ximalaya (2025–2026)

deal·acquisition·closed

Acquisition involving an in-scope AI-music or AI-audio organization.

Verified facts

Official site	https://www.sec.gov/Archives/edgar/data/1744676/000095010325007180/dp229933_6k.htm ↗
Geography	Mainland China
closing date	2026-05-18
regulatory state	conditionally approved by SAMR with restrictive conditions
announcement date	2025-06-10
completion source	src-tme-completion-sec
transaction state	completed
transaction value	value: 1260000000 · currency: USD · qualifier: cash_component · disclosure state: disclosed
buyer organization	org_tencent_music
share consideration	initial cap percent: 5.1986 · additional founder cap percent: 0.37 · maximum class a shares reported at completion: 175288891
target organization	org_ximalaya
transaction structure	Cash plus shares: US$1.26 billion cash, up to 5.1986% of TME ordinary shares before closing, and up to a further 0.37% in tranches to founder shareholders.
ownership acquired percent	100