Tencent

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 […]

APAC SVOD subs to hit 417 million by 2025

The Asia Pacific region will exceed 415 million SVOD subscriptions by 2025. According to new figures from Digital TV Research, the APAC region will reach 417 million SVOD subscribers by 2025, up from a 2019 year-end total of 269 million. China will make up 65% of that total (269 million), while India will reach 45 […]

Tencent to take 10% stake in Vivendi’s music arm, with more likely

French media giant Vivendi has signed its deal with a consortium led by China’s Tencent giving the latter a 10% stake in Vivendi’s most successful operating unit, Universal Music Group (UMG). The deal, which gives UMG a total enterprise value of €30 billion, also gives the consortium an option to acquire an additional stake of […]

Tencent and NBA renew China deal

The National Basketball Association and Chinese giant Tencent have announced a five-year expansion of their existing partnership. The deal will see Tencent provide extensive NBA coverage on its platforms through the 2024-25 NBA season, including live NBA games, NBA programming and interactive fan experiences. Tencent is currently the NBA’s largest partner outside the US, and […]

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