Tencent will shut down its game streaming service, more than a year after Beijing blocked its effort to create China’s equivalent of Amazon.com’s Twitch.
China’s antitrust regulator is set to order Tencent to give up exclusive rights to music labels that it’s used to compete with smaller rivals, two people with knowledge of the matter said.
China’s market regulator on Saturday said it would block Tencent’s plan to merge the country’s top two videogame streaming sites, Huya and DouYu, on antitrust grounds.
China’s antitrust regulator is set to formally block Tencent Holdings’ plan to merge the country’s top two videogame streaming sites, Huya and DouYu, three people familiar with the matter said.
Huya has agreed to buy DouYu International Holdings in an all-share deal that will create a Chinese game-streaming giant with a market value of more than $11-billion.
Tencent wants to merge China’s biggest game-streaming platforms, Huya and DouYu International, people familiar with the matter said, in a deal that would allow it to dominate the $3.4-billion arena.