Chinese gaming giant Tencent Holdings relinquished its two board seats at ‘Fortnite’ maker Epic Games, after the U.S. Department of Justice raised concerns about antitrust violations.

The two Epic board of directors also serve on Tencent’s board, which according to the DOJ is a violation of the Clayton Act that prohibits directors and officers from serving simultaneously on the boards of competitors. Tencent holds a minority stake in Epic, and owns Riot Games, the studio behind ‘League of Legends,’ as well as stakes in other gaming companies, the DOJ said.

Tencent also decided to amend its shareholder agreement with Epic to relinquish its unilateral right to appoint directors or observers to the Epic board in the future, the DOJ said.

https://www.gamesindustry.biz/tencent-directors-step-down-from-epic-games-board-after-us-justice-department-expressed-concerns

 #Game addicts 🤪🎮 
 #Expats in China

Tencent directors step down from Epic Games' board after US Justice Department "expressed concerns"

Game addicts 🤪🎮

Expats in China

Chinese gaming giant Tencent Holdings relinquished its two board seats at ‘Fortnite’ maker Epic Games, after the U.S. Department of Justice raised concerns about antitrust violations.  The two Epic board of directors also serve on Tencent’s board, which according to the DOJ is a violation of the Clayton Act that prohibits directors and officers from serving simultaneously on the boards of competitors. Tencent holds a minority stake in Epic, and owns Riot Games, the studio behind ‘League of Legends,’ as well as stakes in other gaming companies, the DOJ said.  Tencent also decided to amend its shareholder agreement with Epic to relinquish its unilateral right to appoint directors or observers to the Epic board in the future, the DOJ said.  https://www.gamesindustry.biz/tencent-directors-step-down-from-epic-games-board-after-us-justice-department-expressed-concerns   #Game addicts 🤪🎮   #Expats in China

Bobby

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