TECH - TikTok's Parent Company ByteDance In Talks To Sell Gaming Assets To Tencent: Report | Benzinga
In a significant development, ByteDance, the company behind the popular social media platform TikTok, is reportedly engaged in discussions to sell its gaming assets to Tencent (OTC:TCEHY).
What Happened: ByteDance is in conversation with potential buyers for its gaming assets, Reuters reported on Tuesday. Tencent, the world’s largest video game company, is among the leading prospects. However, no agreement has been finalized yet, according to a ByteDance representative.
The talks include ByteDance’s gaming unit, Nuverse, and its popular games “Crystal of Atland” and “Earth: Revival”, as per a report by the local media outlet, LatePost.
This development comes after ByteDance announced in November its intentions to revamp Nuverse and withdraw from the gaming business, after five years of being in the $185 billion global video games market. The company ceased further development of unreleased games and planned to sell off already launched titles.
See Also: Elon Musk Laughs Off Mark Ruffalo’s AI-Generated Donald Trump Tweet Misfire ...