Tencent, the well-known Chinese tech and entertainment behemoth, has recently made a significant move by removing two directors from the board of Epic Games. This decision follows an investigation by the US Department of Justice (DOJ) into antitrust laws.
The DOJ released a statement explaining that the board members had violated Section 8 of the Clayton Act. Essentially, this section prevents an individual from serving on the boards of two rival companies, in this instance, Epic and Tencent.
Consequently, Tencent has revised its shareholder agreement with Epic Games, relinquishing its authority to appoint members to the board of the company famous for creating Fortnite.
Miriam R. Vishio, the deputy director of civil enforcement at the DOJ’s antitrust division, noted, “Interlocking directorates are under close watch and remain a key focus for the Antitrust Division.” She also highlighted the dedication of their diligent staff, saying, “Our increased enforcement of Section 8 over recent years has yielded significant results and is now ingrained in our operational approach.”
