Latham & Watkins advised Tencent Music Entertainment Group (“Tencent Music” or “TME”), the leading online music entertainment platform in China, on its minority equity investment in Wave, the market leader in interactive virtual entertainment experiences. The deal will enable TME to air Wave experiences in China across all of its platforms including QQ Music, Kugou Music, Kuwo Music, and WeSing.
Additionally, this collaboration will allow the two companies to develop virtual concert content for TME Live, an innovative live performance brand under TME, which pioneers the integration of offline concerts with an online experience.
The Latham deal team was led by Hong Kong corporate partner Frank Sun, with Beijing associate Jason Zhao. Advice on CFIUS matters was provided by Washington, D.C. partner Steven Croley, counsel Rachel Alpert, and associate Tahura Lodhi; and on IP matters by Hong Kong associate Kieran Donovan.