Tencent shuts down its rival to Amazon's Twitch as China's crackdown on tech continues
CNN
Tencent is shutting down its game streaming service, in another sign that China's sweeping campaign on Big Tech and a crackdown on the live streaming industry has sharply slowed growth at some of the country's most powerful internet companies.
The streaming platform, Penguin Esports, announced Thursday that it would terminate all services on June 7, citing changes in "business development strategy."
Penguin Esports was established by Tencent in 2016 and mainly focuses on game live streaming, including broadcasts of esports competitions, similar to Amazon (AMZN)'s Twitch service. It owns streaming rights to several of Tencent's hit games in the country, such as Honor of Kings and League of Legends.
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