Capshaw has built Red Light into what the company says is the world's largest independent artist management firm, with a roster that includes Dave Matthews Band, Phish, Chris Stapleton, and The Strokes.
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.