Baidu Inc. (BIDU) has terminated its $3.6 billion acquisition of JOYY Inc.'s (YY) China live-streaming business, citing unmet closing conditions as of the end of 2023.The conditions included obtaining necessary regulatory approvals from governmental authorities.
JOYY Inc., formerly known as YY Inc., confirmed Monday that it is seeking legal advice and will consider all options at its disposal in response to a written termination notice from Baidu.
In November 2020, Baidu agreed to acquire JOYY's domestic video-based entertainment live streaming business ("YY Live"), which included the YY mobile app, YY.com website, and PC YY, among others, for an aggregate purchase price of about $3.6 billion in cash.
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.