News Snapshot:
China’s competition ombudsman is determined to command the music streaming member of Tencent Holdings Ltd (OTCMKTS: TCTZF ) to give up special rights to music tags used to compete with lesser rivals. SAMR to fine company 500,000 Yuan The State Administration of Market Regulation will also order the company to pay a fine of 500,000 Yuan ($77,150) for hiatuses in registering the purchases of apps Kuwo and Kugou, a slighter consequence than the compulsory sale designated previously this year. The step is the newest in a clamp-down to control the financial and social control of China’s once-loosely controlled internet titans....
