Tencent spinoff China Literature to buy New Classics Media for $2.2B in content consolidation play

As the consumer appetite for digital entertainment in China continues its rapid growth, two companies are combining forces to step up their game in the space. Today, China Literature — the Tencent e-publishing venture that went public with a $1 billion IPO last November — announced that it would acquire Chinese digital production company New […] https://ift.tt/2B4Pjbp Ingrid Lunden August 13, 2018 at 12:01PM