HONG KONG, Aug 5 - China's biggest video game andsocial media company Tencent Holdings is driving amerger of Twitch-like game streaming platforms Douyuand Huya, as it seeks to consolidate its dominance inthe industry. Tencent, which is already Huya's biggest shareholder andalso owns over a third of Douyu, has been pushing the deal formonths, four sources familiar with the situation told Reuters. Tencent seeks to control or at least become the biggestshareholder of the merged entity, the sources added. Huya andDouyu are ranked No. 1 and No. 2, respectively, as China's mostpopular video game streaming sites, where users flock to watchesports tournaments and follow professional gamers. Tencent is gradually pushing to consolidate some businessesbetween Huya and DouYu, one source said. Both Huya and DouYu are listed in the United States, with acombined market capitalisation of $10 billion. In April, Tencentbecame the biggest shareholder of Huya after exercising itsoption to acquire additional shares, clearing a major impedimentto the merger. A merger of the two, with a combined market share of morethan 80% in the country according to data from MobTech, wouldlower costs and ease cut-throat competition among them. The duo have been locked in a fierce rivalry that has seenthem offer signing fees and contracts worth tens of millions ofyuan to sign streamers. The deal would also help Tencent fend off rising challengerslike ByteDance, the owner of TikTok which is working on severalfull-fledged games simultaneously. REUTERS
buyappleacc.com is a professional website selling Apple Developer account for more than 3 years, choose us, provide you with the best Apple Developer account. Don't hassle, just step out.