Universal Music Group chairman and CEO Lucian Grainge has hailed today's confirmation of Tencent’s investment in UMG, calling it a "strong validation of our business strategy." In a memo to staff, Grainge outlined the details of the arrangement, which include a sale of 10% of the share capital of UMG to a Tencent-led consortium, based on a €30 billion ($33.6 billion) valuation of the music giant.
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billboard.com
19.12.2019
Lucian Grainge Charts Global Expansion, New Marketing Strategies & More in Holiday Letter to UMG Staff
In a celebratory holiday letter to staff, Universal Music Group chairman and CEO Lucian Grainge said that 2019 "will go down in history" for the record company, and outlined plans to expand internationally, leverage new forms of media to promote its artists and more in 2020.
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