Tencent has become the largest player in the streaming market in China. This happened thanks to a new M&A deal. The Chinese giant acquired Huya shares for $262.6 million and became its controlling owner.
The sale of shares took place in April. As a result, Tencent’s share in Huya was 50.1%. Note that the former also invested $461.6 million in the latter two years earlier.
Now Tencent controls Huya in addition to the Douyu streaming platform. This, as well as the giant’s launch of similar platforms (eGame and Penguin Esports) and a 12% stake in Bilibili, made Tencent the dominant company in the Chinese gaming streaming market.
Recall that last year it tightened the rules for streaming services in China. The rules apply to all sites where Tencent content is displayed.
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