Tencent, the well-known Chinese powerhouse in tech and entertainment, has taken steps to remove two of its directors from Epic Games’ board. This decision comes in the wake of an investigation by the United States Department of Justice (DOJ) concerning antitrust laws.
The DOJ’s press release highlighted that these board members had transgressed Section 8 of the Clayton Act. This specific section makes it clear that an individual cannot serve as a director for two companies that are considered competitors, such as Epic and Tencent in this situation.
Following this investigation, Tencent altered its shareholder agreement with Epic Games, surrendering its right to appoint directors to the Fortnite developer’s board.
Miriam R. Vishio, the deputy director of civil enforcement at the DOJ’s antitrust division, emphasized the importance of maintaining vigilance regarding interlocking directorates. “Our focus on enforcing these rules remains a top priority,” she stated. She also commended the dedicated efforts of their team, noting that their intensified enforcement of Section 8 in recent years has led to significant achievements and has become an integral part of their mission.
