China’s Tencent acquires audiobook platform Lazy Audio for $417million

China’s Tencent Music Entertainment Group said on Friday it acquired audiobook platform Lazy Audio, owned by Shenzhen Lanren Online Technology Co, for 2.7 billion yuan (an equivalent of $417 million). The deal will be largely paid through cash and Lazy Audio’s management team will get post-acquisition equity-settled awards, Tencent said. The acquisition comes at a… Read More China’s Tencent acquires audiobook platform Lazy Audio for $417million

U.S. judge rejects government bid to remove WeChat from app stores

A U.S. judge in San Francisco on Friday rejected a Justice Department request to reverse a decision that allowed Apple Inc and Alphabet Inc’s Google to continue to offer Chinese-owned WeChat for download in U.S. app stores. U.S. Magistrate Judge Laurel Beeler said the government’s new evidence did not change her opinion about the Tencent… Read More U.S. judge rejects government bid to remove WeChat from app stores

U.S. judge blocks order banning WeChat downloads on app stores

A U.S. judge early Sunday blocked the Trump administration from requiring Apple Inc and Alphabet Inc’s Google to remove Chinese-owned messaging app WeChat for downloads by late Sunday. U.S. Magistrate Judge Laurel Beeler in San Francisco said in an order that WeChat users who filed a lawsuit “have shown serious questions going to the merits… Read More U.S. judge blocks order banning WeChat downloads on app stores