Tencent Music Entertainment completed the acquisition of Lazy Audio for $415m.

Tencent Music Entertainment, a media company, completed the acquisition of Lazy Audio, an audio platform in China, for $415m. "We are delighted to welcome the talented Lazy Audio team to the TME family, and expect this strategic acquisition to significantly deepen our presence in the fast growing long-form audio industry in China. As a leading provider of audio entertainment, Lazy Audio can be seamlessly integrated into our existing long-form audio strategy, enabling us to further monetize the extensive library of high-quality literature IPs that we have access to through strategic partnerships with China Literature and others," Cussion Pang, Tencent Music CEO.