Tencent

Tencent focuses on metaverse development with new extended reality unit

Chinese tech giant Tencent has launched a dedicated ‘extended reality’ unit, as the company looks to heavily invest in the metaverse. The company announced the unit’s creation to staff earlier this week (via Reuters), with it charged with building Tencent’s extended reality business across software and hardware. The unit will be led by Tencent Games […]

China’s biggest livestreaming platform making major staff cuts

Tencent-controlled Huya, the Chinese leading game live streaming platform, has reportedly started to lay-off a significant portion of its staff. According to three unnamed sources cited by Reuters, the company once considered China’s answer to Amazon-owned Twitch is cutting hundreds of staff. They said that the company’s Nimo TV unit – the international version of […]

Friends gets heavy censorship upon return to China 

The eagerly awaited return of iconic US sitcom Friends to screens in China has been met with derision over cries of censorship. The series had been off the air in the country for a number of years, but fans were recently rewarded with seeing Friends appear on Chinese streaming services including Tencent, IQiyi, Youku and […]

China Evergrande Group sells entire stake in streaming company HengTen 

China Evergrande Group, the country’s second-largest property development business, has sold its 18% stake in streaming company HengTen Networks Group. Evergrande has agreed a HK$2.13 billion (US$273.5 million) sale, representing a loss of HK$8.5 billion, as the property developer struggles to avoid defaulting on its debts.  The departure represents a dramatic change for HengTen over […]

Extreme E secures Chinese broadcast with Tencent deal

Upcoming off-road electric race series Extreme E has secured distribution in China in a deal with media giant Tencent.  Tencent will stream all five of the championship’s X Prixs on its digital platform, QQ.com along with its associated apps Tencent Sports, Tencent News and Tencent Video. Tencent will also carry Extreme E’s race highlights and […]

Alibaba and Tencent interested in buying iQIYI but wary of costs and regulations

Alibaba and Tencent have both held separate talks with Baidu over buying a controlling stake in VOD platform iQIYI, claims a new report. According to sources cited by Reuters, both giants are interested in increasing their empires by adding the Chinese Netflix equivalent, but have reached an impasse over pricing and regulatory scrutiny. TikTok owner […]

Huya and DouYu confirm merger to create US$11 billion Twitch rival controlled by Tencent

Game streaming platform Huya has announced an all-share deal to buy competitor DouYu in a move which will create an esports empire worth more than US$11 billion. The move will merge China’s two biggest competitive esports platforms, and confirms a deal initially proposed by mediator Tencent in August. Tencent currently owns 38% of DouYu, and […]

Premier League secures stop-gap deal in China with Tencent Sports

The English Premier League has signed a broadcast deal in China with Tencent to cover the 2020-21 season. The one year deal is understood to be something of an emergency stop-gap, following the League’s abandonment of its deal with PPTV. The league voted to cut the PPTV deal short after a year earlier this month […]

Tencent to create US$10 billion esports streaming giant with merger of DouYu and Huya

Media giant Tencent wants to create a US$10 billion Chinese equivalent to game streaming platform Twitch by merging the country’s two biggest esports companies. DouYu and Huya have long been battling to become the top esports platform in China, but Tencent has announced plans to bring them together under one roof. Tencent is also an […]

China’s Tencent to buy Asian streamer Iflix

Chinese entertainment giant Tencent is poised to acquire the key assets of indebted pan-Asian streamer Iflix for an undisclosed sum. Tencent will take control of iFlix’s content, resources and tech, but not its debt, according to BNN Bloomberg, in a move that would expand the reach of its WeTV streaming service in the region. “This […]

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