Tencent, the major player in both the tech and entertainment sectors, has made a significant move by removing two of its directors from Epic Games’ board. This decision follows a thorough investigation by the US Department of Justice (DOJ) concerning antitrust regulations.
According to a DOJ press release, these board members were found to be in violation of Section 8 of the Clayton Act. This section specifically prohibits any individual from serving as a director for two competing companies, which, in this instance, are Epic and Tencent.
In light of the investigation’s outcome, Tencent has decided to alter its shareholder arrangement with Epic Games. The company has relinquished its right to appoint directors to the board of the studio behind Fortnite.
Miriam R. Vishio, who serves as the deputy director of civil enforcement at the DOJ’s antitrust division, remarked, “Enforcing rules around interlocking directorates remains a top priority for the Antitrust Division. Thanks to the dedication of our outstanding team, our intensified focus on Section 8 in recent years has yielded significant achievements and has become an integral part of our operations.”
