Tencent gives up two board seats at Epic Games in response to U.S. antitrust scrutiny
2024-12-19 15:03:09

Tencent has relinquished its two board seats at game developer Epic Games, and the two Epic Games directors it appointed have resigned, the U.S. Department of Justice said in a statement on Wednesday.

Tencent also decided to amend its shareholder agreement with Epic Games to give up its right to unilaterally appoint directors or observers to Epic Games' board in the future.

The two outgoing directors are David Wallerstein, a senior management consultant at Tencent, and Ben Feder, former president of Tencent's North American international partnerships and now managing partner at Tirta Ventures, Epic Games said in an email.

This comes after the U.S. Department of Justice's antitrust division found that Tencent's position on the Epic Games board allegedly violated Section 8 of the Clayton Act.

Tencent owns a minority stake in Epic Games, which is also the parent company of Epic Games' gaming competitor Riot Games.

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