TenCent is a well known media company. The Chinese government took exception to exclusive music licensing. Now with the new ruling the company is backpedalling fast. The Chinese government wants a more competitive environment to avoid the problems with corporate abuses.
China is a large market so it can handle 100 independent television channels easily. Radio has given way to streaming services which seems to be the easy to be competitive. Books and magazines have faded to web oriented properties.
The rest of the world tends to be more competitive which makes for a richer diversity of goods and services. China realises that competition has merit.
Some commentators believe the action against Tencent will signal others such as the US and EU that massive corporate conglomerates are not the best course of action. A good example is Facebook and Instagram which should be broken up.
In Canada, exclusive dealing are in violation of the Competition Act.