Menu PocketGamer.biz
Search
Home   >   News

Streaming platforms Huya and DouYu are merging

Tencent will have a 67.5% stake
Streaming platforms Huya and DouYu are merging
Date Type Companies Involved Size
Oct 13, 2020 merger Douyu Huya Tencent Not disclosed
Stay Informed
Get Industry News In Your Inbox…
Sign Up Today

Chinese streaming platforms Huya and DouYu have entered into a merger agreement.

The deal is expected to close within the first half of 2021 and will see DouYu become a subsidiary of Huya.

"Huya will acquire all the outstanding shares of DouYu, including ordinary shares represented by American depositary shares, through a stock-for-stock merger," reads the announcement.

Upon completion of the merger, chief executives Rongjie Dong and Shaojie Chen of Huya and DouYu, respectively, will become co-CEOs of the combined company. Furthermore, the board of directors members from Huya will continue to serve after the merger goes through.

Coming together

The idea of a merger between the live streaming giants was first brought forward by Tencent, who has a majority stake in Huya, and a 38 per cent hold in DouYu after it invested $632 million in 2018.

Once the merger has been completed, Tencent will hold a 67.5 per cent stake in the new company.