Each week, Esports Insider brings together the biggest headlines from the esports industry in China. This week in Chinese esports saw Tencent exercise the option to become the largest shareholder in HUYA, two federations join forces, and DPL merge with CDA.
Tencent becomes the largest shareholder of HUYA
Chinese live streaming platform HUYA announced that Linen Investment Limited, a wholly-owned subsidiary of Tencent, exercised the option to acquire 16,523,819 Class B ordinary shares. After the transaction, Tencent would own 50.9 percent of the company, becoming its largest shareholder. HUYA will still operate separately.
Rongjie Dong, CEO of HUYA, commented: “After this transaction, it is believed that we will have more opportunities to develop our business. I hope all of us can positively embrace the change and refocus on the work.”
DPL and CDA join forces to launch DPL-CDA
Chinese esports event organiser Mars Media unveiled that the Chinese Dota 2 Professional Association (CDA) had agreed merge with its Dota 2 Professional League to launch DPL-CDA.
The new league aims to provide a higher standard of competition for teams and viewers during the COVID-19 pandemic.
Read the full article here.
AESF signs Memorandum of Understanding with IESF
The Asian Electronic Sports Federation (AESF) signed a Memorandum of Understanding (MOU) with the International Electronic Sports Federation (IESF).
The federations will cooperate to drive the Olympic collaboration agenda for esports and work on the esports ecosystem to protect the rights and interests of different stakeholders, according to a release. Together, they look to promote and develop esports, unite esports communities, and establish a legitimate esports governing structure across all continents.
Read the full article here.