The Chinese conglomerate Tencent has a major presence within the industry. It owns or has stakes in several game companies, including “League of Legends” and “Valorant” developer Riot Games and “Fortnite” creator Epic Games. The company also has single-digit stakes in studios like Activision Blizzard and Ubisoft.
A second executive order extended the same restrictions to Chinese company ByteDance, the owner of the popular social media platform TikTok. Both orders cite national security as the prime concern.
The scope of the two orders remains unclear. The Washington Post reached out to Tencent for comment, and a spokesperson confirmed that the company is “reviewing the executive order to get a full understanding.”
Should they not be acquired, TikTok and WeChat are likely to be effectively banned within the United States in 45 days. TikTok is currently in talks with Microsoft regarding a potential acquisition of the video app’s U.S. operations.