It's an unexpected and ambitious first project for Tencent and UMG that could end up with an even closer connection between them.
In early April, several days after Tencent Holdings closed its deal to buy a 10% stake in Universal Music Group along with a consortium of investors, Tencent chief strategy officerMitchell had spoken to Tanous a number of times over the course of the negotiations, but this was his first call since the deal closed, and it was about a very different topic.
The previous week, Tencent had launched its Global Anti-Pandemic Fund to support the fight against the coronavirus, with a focus on sourcing and donating masks and isolation gowns, many of which are made in China. The company had committed to spend $100 million to donate PPE. By then, Tencent had already helped coordinate a delivery of 1.2 million masks to a Shenzhen airport, where they were picked up and flown back to the U.S. on the New England Patriots team plane, for distribution in Massachusetts and New York. Next, the company wanted to expand its donations outside the northeast."We had been spending a lot of time with UMG in LA we had built up some rapport," Mitchell says,"so we asked them about being a partner in LA, and elsewhere.
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