Tencent plans to take streaming firm DouYu private

Tencent Holdings plans to take DouYu International Holdings Ltd private, Reuters reports.

Tencent is taking DuoYu private as there are disagreements over strategy among executives at the Chinese videogame streaming firm.

Tencent is the biggest shareholder in Nasdaq-listed DouYu with a 37% stake.

Tencent wants to team up with at least one private equity firm for the deal.

Tencent is currently talking to investment banks for the deal.

Tencent had tried to merge DuoYu with bigger rival Huya but were blocked by regulators on antitrust grounds.

There have been differences among DouYu executives over whether to stick with game livestreaming as its core business or shift towards more profitable entertainment livestreaming, Reuters reports.

In addition to the blocking of the DouYu-Huya deal, Tencent has also had to contend with efforts by authorities to rein in gaming by minors, while curbs on other industries have also dampened advertising appetite.