China's State Administration for Market Regulation (SAMR) issued an announcement on Tuesday (May 12) granting conditional approval to the USD $2.4 billion cash-and-stock deal, nearly a year after Tencent Music first unveiled the transaction in a June 2025 SEC filing.
The update, announced via YouTube's Creator Insider channel on Friday (May 1), adds a new "Create" button to the existing "Replace Song" tool in YouTube Studio on desktop.
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UMG will sell half of its equity stake in Spotify and use the proceeds to help fund an expanded share buyback program totaling EUR €1 billion (USD $1.17bn)