Chinese Tech Giant Baidu Scraps Live-Streaming Deal

Chinese Tech Giant Baidu's $3.6 billion deal to acquire YY Live has been scrapped due to regulatory. hurdles. Joyy Inc. faces uncertainties in deal

Chinese Tech Giant Baidu Scraps Live-Streaming Deal

Baidu Scraps Live-Streaming Deal In a major blow to its diversification plans, Chinese tech giant Baidu has scrapped its high-profile $3.6 billion acquisition of YY Live, the popular live-streaming platform owned by Nasdaq-listed Joyy Inc . The deal, announced in 2020, was intended to propel Baidu into a leading position in China's booming live-streaming market but ultimately fell victim to regulatory roadblocks. Key Takeaways: Baidu's $3.6 billion deal to acquire YY Live has been scrapped due to regulatory hurdles. The failure to secure approvals highlights increased scrutiny of the live-streaming industry in China. This sets back Baidu's diversification plans and raises questions about its future live-streaming strategy. Joyy Inc. faces uncertainties after the deal's collapse. Deal Falls Through After Failing to Secure Approvals Baidu cited the inability to obtain "necessary regulatory approvals" from authorities by the pre-set deadline of December 31, 2023, as the …

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