Two Top Epic Directors Resign Amid DOJ Antitrust Probe

Tencent, the well-known Chinese tech and entertainment powerhouse, recently made headlines by removing two directors from Epic Games’ board. This move comes in the wake of an investigation conducted by the US Department of Justice (DOJ) focusing on antitrust regulations.

The DOJ released a statement explaining that the board members violated Section 8 of the Clayton Act. Essentially, this law ensures that an individual cannot hold board positions in two competing companies, which was the case with Epic and Tencent.

Following these developments, Tencent has decided to modify its shareholder agreement with Epic Games. This adjustment means the company will no longer have the right to appoint directors to Epic’s board, known for its wildly popular game, Fortnite.

According to Miriam R. Vishio, who serves as the deputy director of civil enforcement at the DOJ’s antitrust division, “Monitoring interlocking directorates remains a key focus for the Antitrust Division.”

She further added, “Thanks to the dedicated efforts of our exceptional team, our ramped-up enforcement of Section 8 over recent years has led to significant outcomes and is now intrinsically linked to our mission.”