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Roehl Niño Bautista · · 1 min readTencent boosts own game-streaming app after China blocks merger plans
“Tencent has begun re-deploying people and resources toward its own game streaming platform, after China blocked a merger that would have cemented the social media giant’s lead in a US$3 billion sector,” reported Bloomberg citing sources.
Details:
- As part of its efforts to beef up its streaming app, Penguin Esports, Tencent has created its own product design and operations team. It has also disbanded a team that was previously tasked to liaise with game-streaming sites Huya and DouYu.
- This move comes months after China’s State Administration for Market Regulation blocked the firm’s planned merger of Huya and DouYu.
Dive deeper:
- Tencent is the biggest shareholder in Huya and owns a third of DouYu.
- The antitrust regulator claimed that the merger would “eliminate or restrict fair competition” and favor Tencent, as it will go from jointly controlling DouYu to managing the merged entity.
Editing by Miguel Cordon and Arpit Nayak
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