![]() The merger was being orchestrated by Tencent, which holds sizable stakes in both companies. Tencent controls more than 80% of online music streaming rights in China exclusively, said SAMR in the statement.Įarlier this month, SAMR killed the merger between Douyu and Huya, the two largest video-game streaming platforms in China. The company was fined RMB 500,000 (USD 77,100) as well. This week, the State Administration for Market Regulation, or SAMR, ordered Tencent to remove its exclusive music licensing deals with record companies within 30 days. It has been dealt blows on multiple fronts. ![]() WeChat said on Weibo that registrations will resume in early August.Īmid China’s sweeping crackdown on tech companies, Tencent is one conglomerate that has been under strict scrutiny since the end of 2020. ![]() “We are currently upgrading our security technology to comply with all relevant laws and regulations,” Tencent said in a statement to Reuters. The CAC also announced that it will take down inappropriate content that could harm minors. MIIT said on July 16 that it will issue fines to companies that repeatedly access users’ contact lists and geolocations without permission. The Ministry of Industry and Information Technology (MIIT) and Cyberspace Administration of China (CAC) have both stated this month that they will strengthen governance over apps and online platforms, especially on data security and content. The company said on Tuesday that it is upgrading its system to “comply with relevant laws and regulations” before registrations can resume. Tencent’s WeChat has suspended new user registrations in China.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |