Reported about 8 hours ago
Baidu has successfully acquired JOYY's China live-streaming business, YY Live, for $2.1 billion, a deal that was previously stalled due to regulatory issues. This acquisition allows Baidu to enhance its presence in the fast-evolving digital video market and compete more effectively against rivals like Douyin and ByteDance. Following the softening of regulatory restrictions, Baidu also gains access to $1.6 billion from the previous agreement to support its expansion into AI and cloud services.
Source: YAHOO