|Bid||40.71 x 800|
|Ask||41.00 x 1000|
|Day's Range||40.24 - 42.06|
|52 Week Range||13.23 - 51.25|
|Beta (5Y Monthly)||1.09|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 18, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||43.53|
Video game meet-up ChinaJoy was one of the first big shows staged in China since the pandemic began.
(Bloomberg) -- Tencent Holdings Ltd. is driving discussions to merge China’s biggest game-streaming platforms Huya Inc. and DouYu International Holdings Ltd., people familiar with the matter said, in a deal that would allow it to dominate the $3.4 billion arena.The Chinese social media titan -- which owns a 37% stake in Huya and 38% of DouYu -- has been discussing such a merger with the duo over the past few months, although details have yet to be finalized, said the people, who asked not to be identified because discussions are private. Tencent is seeking to become the largest shareholder in the combined entity, one person said.A deal would create an online giant with more than 300 million users and a combined market value of $10 billion, cementing Tencent’s lead in Chinese games and social media. Faced with rising competition for advertisers from ByteDance Ltd. and its rapidly growing stable of apps, the WeChat operator would then run a highly profitable service akin to Amazon.com Inc.’s Twitch. Huya and DouYu would keep their respective platforms and branding while working more closely with Tencent’s own esports site eGame, said the people.Douyu’s shares surged 18% in pre-market trade in New York, while Huya soared 15%. Tencent climbed 2% to a two-week high in Hong Kong.“As the major shareholder of both platforms, Tencent would benefit because a merger would remove unnecessary competition between them,” Bloomberg Intelligence analyst Vey-Sern Ling said. “The enlarged scale can also help to drive cost synergies and fend off emerging competitors.”Tencent and DouYu representatives declined to comment, while Huya spokespeople didn’t respond to requests for comment.Tencent’s shoring up its home-market position against the backdrop of a Trump administration increasingly hostile toward Chinese tech companies. WeChat has a limited U.S. presence and Trovo Live, a mobile-focused game-streaming service for American consumers, is only in its initial stages.China’s game-streaming market is estimated to generate 23.6 billion yuan ($3.4 billion) in revenue this year, according to iResearch. The country’s streaming networks live and die by the popularity of star players and the virtual tips and gifts that fans buy for them, leading to intense bidding wars for the most-recognized names. Companies like Google-backed Chushou TV shuttered their services after failing to secure new money, while NetEase Inc.’s CC Live has found a small niche in broadcasting its in-house titles.Already featuring Tencent’s marquee games like PUBG Mobile and Honor of Kings, Huya and DouYu have established a clear lead as the top two platforms. Nevertheless, revenue growth slowed down for both in recent quarters as users shifted their attention to ByteDance’s Douyin, the Chinese twin to the globally popular TikTok short-video service. A merger would help them lower broadcast and content costs at a time when rival video services like Kuaishou and Bilibili Inc -- both also backed by Tencent -- intensify their efforts to compete for more gaming content.In April, Tencent bought an additional stake in Huya for about $260 million from Joyy Inc., boosting its voting power in the platform to more than 50%. When asked about the possibility of a merger with Huya, DouYu founder and Chief Executive Officer Chen Shaojie told analysts on a March earnings call: “We believe it’s Tencent’s vision.”(Updates with share action from the fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
SHANGHAI, China, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Bilibili Inc. (“Bilibili” or the “Company”) (Nasdaq: BILI), a leading online entertainment platform for young generations in China, today announced its strategic partnership with Riot Games, the developer of leading MOBA League of Legends, among others, for granting Bilibili a three-year exclusive license for live broadcasting the League of Legend Esports (“LoL Esports”) global events (in Mandarin only), including the world-renowned League of Legend World Championship, Mid-Season Invitational, and All-Star Event in China beginning in 2020 through the 2023 Mid-Season Invitational. To mark the 10th anniversary of the League of Legend World Championship, Bilibili will join forces with Riot Games to host various online and offline esports events, bringing the world renowned, global tournament to even broader audiences."We are excited to reach a strategic partnership with Riot Games,” said Carly Lee, the Vice Chairwoman of the Board and COO of Bilibili. “Throughout the past decade, we have witnessed esports becoming mainstream and one of the most popular sports among China’s young generations. As an internet company headquartered in Shanghai, we also look forward to helping the city strengthen its leading position in the global esports industry.”“We continuously look to share our tournaments to a wider fan base across different platforms, and we have full confidence in Bilibili to elevate this superb tournament to the next level,” said John Needham, Global Head of Esports, Riot Games. “Our partnership with Bilibili opens us to new audiences by their immersive live-broadcasting experience. Moving into the next decade of LoL Esports, this strategic partnership further unlocks our potential to bring fresh content and chapters to the world’s top professional players.”About Bilibili Inc.Bilibili represents the iconic brand of online entertainment with a mission to enrich the everyday life of young generations in China. Bilibili is a full-spectrum online entertainment world covering a wide array of genres and media formats, including videos, live broadcasting and mobile games. Bilibili provides an immersive entertainment experience and high-quality content that caters to the evolving and diversified interests of its users and communities, and has built its platform based on the strong emotional connections of Bilibili’s users to its content and communities.For more information, please visit: http://ir.bilibili.com.About Riot GamesRiot Games was founded in 2006 to develop, publish, and support the most player-focused games in the world. In 2009, Riot released its debut title, League of Legends, to worldwide acclaim. League has gone on to be the most-played PC game in the world and a key driver of the explosive growth of esports.As League enters its second decade, Riot continues to evolve the game while delivering new experiences to players with VALORANT, Legends of Runeterra, Teamfight Tactics, League of Legends: Wild Rift, and multiple work-in-progress titles, while exploring the world of Runeterra through multimedia projects across music, comic books, TV, and more. Founded by Brandon Beck and Marc Merrill, Riot is headquartered in Los Angeles, California, and has 2,500+ Rioters in 20+ offices worldwide. Safe Harbor StatementThis announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, statements regarding the expected closing of the transaction in this announcement are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to, those included in Bilibili’s filings with the SEC and in Tencent’s filings with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and neither of Bilibili or Tencent undertakes any duty to update such information, except as required under applicable law.For investor and media inquiries, please contact:For Bilibili in China:Bilibili Inc. Juliet Yang Tel: +86-21-2509 9255 Ext. 8523 E-mail: firstname.lastname@example.orgThe Piacente Group, Inc. Emilie Wu Tel: +86-21-6039-8363 E-mail: email@example.comFor Bilibili in the United States:The Piacente Group, Inc. Brandi Piacente Tel: +1-212-481-2050 E-mail: firstname.lastname@example.org