Tencent Holdings Ltd. has agreed to acquire a controlling stake in music streaming company China Music Corporation to create a dominant player in China’s online-music market, the company announced. The deal values China Music Corp., or Haiyang Yinyue in Chinese, at roughly US$2.7 billion. Tencent will combine its QQ Music with the company's Kugou and […]

Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video Internet podcasts covering important investment news and financial events in China. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.