Trump’s executive order does not just target TikTok, but also Bytedance itself, and any of its brands or subsidiaries. Should the same apply to Trump’s WeChat order – i.e. banning any transaction with its parent, Tencent Holdings Ltd – it would spell potential disaster for UMG and WMG. Tencent is a minority stakeholder in both major music companies.
Source: Donald Trump’s ban on TikTok and Tencent’s WeChat appears to get Universal, Warner off the hook