- Tencent is reportedly exploring an acquisition of iQIYI, the Baidu-owned, Nasdaq-listed VOD service that has 119M subscribers (mainly in China). Tencent’s rival Tencent Video service has 112M paying subs. (Read more)
- Hydrow, the Boston-based startup providing a subscription video service of rowing workout videos alongside a rowing machine (think Peleton for rowing), raised an additional $25M in funding from L Catterton. (Read more)
- Midia’s blog post on Tencent‘s music industry strategy: Read it here
- Epic Games‘ current fundraise is for $750M at a $17B valuation. (Read more)
- GamesBeat reports Epic took in $400M in April revenue from Fortnite.
- Hulu is shutting down its VR app. (Read more)
- The Verge investigated “What’s left of Magic Leap“: Read it here
- The EU’s European Commission announced formal antitrust investigations into Apple over its App Store and Apple Pay. (Read more)
- Spotify, among others, filed formal complaints against Apple last year and lobbied regulators to take action.
- Lagardère, the Paris-based publishing and travel retail group that recently fended of activist investor Amber Capital, is looking to sell its live entertainment assets like Les Foiles Bergeres cabaret and several venues for €70M. (Read more)
- Kevin Durant, a star basketball play at the NBA’s Brooklyn Nets, bought a 5% stake in the Philadelphia Union MLS soccer team with option to double his stake. (Read more)