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.
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)