Tencent Is Now a 10% Shareholder in Warner Music Group

Tencent has confidence in a publicly traded Warner Music Group, to the tune of at least $200 million. According to a new SEC filing, TME scooped up 8 million shares of WMG Class A common stock on June 3, the day the major label began trading on the Nasdaq at an initial price of $25 per share. (The stock ended the day at $30.12, valuing Warner at $17.9 billion.)
Four million shares were purchased by Tencent Music Entertainment, a streaming company of which Chinese conglomerate Tencent is a majori