Tencent Music to buy Chinese audio platform Ximalaya for $2.4 billion

China’s Tencent Music Entertainment Group said on Tuesday it would buy domestic long-form audio platform Ximalaya for about $2.4 billion in cash and stock, expanding its library of content to attract more paying users.

The deal will give Tencent Music access to a diverse creator network that includes professional and user-generated content on topics spanning history, business and entertainment.