Tencent, a major player in the tech and entertainment spheres, has made waves by pulling two of its directors from Epic Games’ board. This move comes on the heels of a U.S. Department of Justice (DOJ) probe into potential antitrust violations.
The DOJ’s press release highlighted that the directors in question ran afoul of Section 8 of the Clayton Act, a law that bars individuals from serving on the boards of competing companies. In this instance, it was a no-go for someone to be a director for both Epic and Tencent.
Following the investigation’s conclusions, Tencent decided to adjust its shareholder agreement with Epic Games. The company willingly stepped back from its privilege of appointing board members to the gaming titan behind Fortnite.
Miriam R. Vishio, the DOJ’s deputy director of civil enforcement within its antitrust division, shed some light on the broader implications. “Monitoring interlocking directorates remains a key focus for the Antitrust Division,” she explained. Vishio went on to express pride in their team’s tireless efforts, noting that recent stringent enforcement of Section 8 has yielded significant outcomes and has become integrated into their everyday operations.
