ByteDance offloads gaming unit to Tencent-backed firm in sign of ongoing industry consolidation
ByteDance has agreed to sell C4Games to a subsidiary of China Ruyi Holdings, a film and game production firm nearly 22 per cent owned by video gaming giant Tencent Holdings, for 259 million yuan (US$35.8 million), Beijing-based China Ruyi said in a Tuesday filing to the Hong Kong stock exchange. C4Games, acquired by ByteDance in … Read more
