China Blocks $5.3 Billion Merger of Live Streaming Firms Huya and DouYu
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variety.comPatrick Frater Asia Bureau ChiefChinese regulators have formally blocked the proposed merger of Huya and Douyu, two of the country’s largest live streaming operators.
The planned merger had been orchestrated by social media and gaming giant Tencent and had been valued at approximately $5.3 billion.The announcement was made by the State Administration for Market Regulation in an online statement on Saturday morning, after relevant stock markets had closed.
Huya is listed on the New York Stock Exchange. DouYu is listed on NASDAQ. Tencent is listed in Hong Kong.“If Huya and Douyu merged, that would… further strengthen Tencent’s dominant position in the video game live-streaming market,” the regulator said. “This has the effect of eliminating.
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