Tencent Directors to Leave Epic Games

Business

20 December 2024 16:10

Two Tencent directors have stepped down from Epic Games' board of directors following concerns raised by the US Justice Department regarding their positions.

According to a statement on the US Justice Department's website, the department argued that the appointments of these directors to both Epic and Tencent's boards violated Section 8 of the Clayton Act. This antitrust law is designed to protect consumers from practices that could be harmful. The law prohibits individuals from serving on the boards of competing companies, such as Epic and Riot.

More:Sonic Musician Sues SEGA

As a result, Tencent has revised its shareholder agreement with Epic, relinquishing its unilateral right to appoint directors or observers on Epic’s board, as Tencent holds a minority stake in the company and is also the parent of Epic’s competitor, Riot Games.

"Scrutiny around interlocking directorates continues to be an enforcement priority for the Antitrust Division," said Miriam R. Vishio, the department's deputy director of civil enforcement. "Due to the hard work of our tremendous staff, our increased enforcement around Section 8 over the last few years has achieved substantial results and become part of our fabric."

Tags: Tencent

Share:

Sources:

Report mistake Submit news

Related news

View All

Light of Motiram Marketing Stopped

Tencent has agreed to halt all promotional activities and public testing for its upcoming action game Light of Motiram as...

Drama

Dec 04, 2025

Sony vs.Tencent Battle Heating Up

The legal battle between Sony and Tencent is intensifying, as Sony has fired back at the Chinese tech giant’s latest...

Drama

Oct 17, 2025

UKIE Partners with Tencent

The UK’s games industry trade association, UKIE, has officially announced the return of its Video Games Growth Programme for a...

Business

Sep 10, 2025

Tencent Might Acquire Nexon

Chinese tech giant Tencent is reportedly in early talks to acquire Nexon, the South Korean video game publisher known for...

Mergers and Acquisitions

Jun 18, 2025

Tencent Acquires a Stake in Arrowhead Game Studios

Chinese tech giant Tencent has acquired a 15.75% stake in Swedish game developer Arrowhead Game Studios, best known for the...

Mergers and Acquisitions

Jun 10, 2025

Tencent Directors to Leave Epic Games

Business

20 December 2024 16:10

Tags: Tencent

Two Tencent directors have stepped down from Epic Games' board of directors following concerns raised by the US Justice Department regarding their positions.

According to a statement on the US Justice Department's website, the department argued that the appointments of these directors to both Epic and Tencent's boards violated Section 8 of the Clayton Act. This antitrust law is designed to protect consumers from practices that could be harmful. The law prohibits individuals from serving on the boards of competing companies, such as Epic and Riot.

More:Sonic Musician Sues SEGA

As a result, Tencent has revised its shareholder agreement with Epic, relinquishing its unilateral right to appoint directors or observers on Epic’s board, as Tencent holds a minority stake in the company and is also the parent of Epic’s competitor, Riot Games.

"Scrutiny around interlocking directorates continues to be an enforcement priority for the Antitrust Division," said Miriam R. Vishio, the department's deputy director of civil enforcement. "Due to the hard work of our tremendous staff, our increased enforcement around Section 8 over the last few years has achieved substantial results and become part of our fabric."

Share:

Sources:

Report mistake Submit news