Impala to oppose Tencent investment in Universal Music Group
Posted on: 26 novembre 2019, by : Stuart Dredge

Independent-music body Impala has come out against plans for Chinese technology company Tencent to buy a 10% stake in Universal Music Group, with an option to buy a further 10%.
“Even at a low level of shareholding, we believe the risk of harm for consumers and competitors from such a transaction would be a concern because of the impact in both the digital market and the music sector, with independents being squeezed further and artists also losing out,” said Impala’s executive chair Helen Smith, in a statement this morning.
Impala has campaigned actively and influentially (if not always successfully, in terms of persuading regulators to step in) against consolidation of the music industry’s major labels. The proposed Tencent / UMG investment represents a new front for the body’s concerns.
The post Impala to oppose Tencent investment in Universal Music Group appeared first on Music Ally.
Source: Music ally

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