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Tencent exits Epic Games board amid antitrust concerns
Tencent Holdings Ltd. has relinquished its right to appoint directors to Epic Games Inc’s board after the United States Department of Justice (DOJ) found this arrangements violated antitrust laws.
The DOJ expressed concerns regarding Tencent’s minority stake in Epic Games and its ownership of Riot Games Inc., a direct competitor.
Consequently, David Wallerstein, a former Tencent executive, and Ben Feder of Tirta Ventures stepped down from Epic’s board.
Recent Tencent developments
| Timeline |
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09-Dec-2024 🎮 Tencent, Nexon plan to release new game in China
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04-Dec-2024 🎥 Tencent unveils world’s largest text-to-video AI tool
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16-Nov-2024 🌐 Tencent, ZainTech partner to introduce its tech in MENA
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15-Nov-2024 📈 Tencent rebounds with 3,000 new hires in Q3
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13-Nov-2024 💹 Tencent’s profit jumps 47% in Q3
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| 13-Nov-2024 🎶 Tencent Music’s revenue misses expectations despite gains |
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