Tencent merges with China Music Corp to develop digital music

Chinese Internet giant Tencent Holdings Ltd announced on Friday a strategic merger with China's leading music-streaming company China Music Corporation to develop the digital music business in China. The merger combined Tencent's QQ Music service with CMC to form a new digital music company, Tencent wrote in a statement. Tencent would become the majority shareholder of the new company, it added.