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New York State Awards $3.5M Grant Towards Universal Hip Hop Museum

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The State of New York has reportedly made a hefty donation toward making the Universal Hip Hop Museum (UHHM) a reality. According to The New York Post, Governor Andrew Cuomo announced that the state awarded a $3.5 million grant to the cause. The museum’s director, Rocky Bucano, explained the museum will celebrate the four elements of Hip Hop culture: breaking, graffiti, DJing and MCing.

Tencent Group Buys 10% of Universal Music for $3.4 Billion

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A consortium led by China’s Tencent Holdings Ltd. agreed to buy 10% of Universal Music Group from French media company Vivendi SA after months of talks. The deal values the world’s biggest music company at 30 billion euros ($33.6 billion). Tencent and its partners can increase their stake to as much as 20% at the same valuation until Jan. 15, 2021, the companies said in statements.