Tencent, a major player in the tech and entertainment world, has taken action by removing two directors from Epic Games’ board. This move comes in the wake of a U.S. Department of Justice (DOJ) investigation focused on antitrust laws.
According to a recent statement from the DOJ, these directors were found to have breached Section 8 of the Clayton Act. This law clearly states that a director shouldn’t serve on the boards of competing companies, which, in this scenario, involves both Epic Games and Tencent.
In light of the investigation’s conclusions, Tencent has altered its shareholder agreement with Epic Games. This change means Tencent will no longer have the privilege of appointing directors to the board of the company behind Fortnite.
“Interlocking directorates are under the spotlight and remain a key focus for us at the Antitrust Division,” noted Miriam R. Vishio, who serves as the deputy director of civil enforcement within the DOJ’s antitrust division.
She went on to add, “Thanks to the dedication and hard work of our incredible team, our intensified efforts to enforce Section 8 in recent years have yielded significant outcomes and have become deeply ingrained in our practices.”
