Baidu Terminates $3.6 Billion Acquisition of JOYY's YY Live

The Termination Underscores China's Tighter Regulatory Grip on Tech Acquisitions

Baidu has terminated its planned $3.6 billion acquisition of JOYY Inc's China live-streaming business, YY Live, due to failure to secure necessary regulatory approvals.
The termination of the deal represents a significant setback for Baidu's strategy to diversify its content offerings and revenue streams.
Analysts suggest that the termination of the deal could benefit Baidu's focus on its AI business expansion, particularly its AI chatbot, Ernie Bot.
JOYY, a pioneer in Chinese live-streaming, has a global user base with 1.61 million paying users and generated $236 million in revenue from China in the first nine months of 2023.
The termination of the deal underscores the Chinese government's tighter grip on significant tech acquisitions and its efforts to regulate the private sector more stringently.