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Tech

Baidu terminated its acquisition of YY Live, and Huanju Group responded that it was seeking legal advice
Tech

Baidu terminated its acquisition of YY Live, and Huanju Group responded that it was seeking legal advice

On the evening of January 1, 2024, Baidu Group issued an announcement announcing that its affiliate Moon SPV Limited had terminated the share purchase agreement with Huanju Group. According to the agreement, Baidu originally planned to acquire Huanju Group’s domestic video entertainment live broadcast business in China for US$3.6 billion. However, the deal has been canceled due to certain closing preconditions not being met by the final deadline.