Two Epic Executives Resign Amid DOJ Antitrust Probe

Tencent, the well-known Chinese powerhouse in technology and entertainment, recently made headlines by pulling two of its directors from the board of Epic Games. This move comes in the wake of a probe by the US Department of Justice (DOJ) that focused on potential breaches of antitrust laws.

According to a statement from the DOJ, the directors in question were found to be in violation of Section 8 of the Clayton Act. This particular piece of legislation is clear: an individual cannot simultaneously serve as a director for two competing firms, which in this instance, are Epic Games and Tencent.

In light of the investigation’s outcome, Tencent has decided to overhaul its shareholder agreement with Epic Games. Part of these changes include relinquishing its right to appoint board members for the creators of Fortnite.

Miriam R. Vishio, who serves as the deputy director of civil enforcement at the DOJ’s antitrust division, emphasized the ongoing focus on issues related to interlocking directorates. “Our attention to this matter remains a key enforcement priority,” she remarked. “Thanks to the tireless efforts of our incredible staff, we’ve ramped up our enforcement in accordance with Section 8 in recent years, resulting in significant achievements that have become an integrated part of our operations.”