Friday, 24 March, 2023

Tencent to shut down its game streaming service by June

<p>Due to &quot;changes in business plans,&quot; Tencent, the world&#39;s largest video game corporation, has announced that its game broadcasting site Penguin Esports would be shut down by June. The platform faced rising competition from Bilibili and Kuaishou which have a market cap of $10B and $40B respectively. Tencent also owns the country&rsquo;s two biggest streaming platforms, Douyou and Huya whose merger has been blocked by the Chinese government.</p>