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Baidu's Live-Streaming Hopes Hit by Lapse of $3.6 Billion Deal to Buy YY

(Bloomberg) Baidu Inc.’s bid to acquire Joyy Inc.’s live-streaming business for China has lapsed, dealing a blow to the search engine giant’s advances into the digital video arena.Most Read from BloombergQuake Hits Northwestern Japan, Killing Four, Wrecking HomesIran Sends Warship to Red Sea After US Sinks Houthi BoatsIndia’s Crude Oil Imports From Russia Plunge on Payment IssuesMaersk Halts Red Sea Shipping as US Navy Sinks Houthi BoatsUS Pushed Dutch Maker of Chip Equipment to Block Chinese ....

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baidu joyy deal scrapped: Baidu scraps $3.6 billion deal for JOYY's China live-streaming unit

Baidu affiliate Moon SPV Ltd terminated the share purchase agreement with JOYY because the conditions of closing the deal it provided for "had not been fully satisfied" as of the end of 2023, Baidu said in an exchange filing on Monday. ....

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China's Baidu cancels $3.6 bn purchase of livestreaming site

Chinese internet giant Baidu has said it was cancelling the planned multi-billion-dollar purchase of livestreaming platform YY Live, partly blaming its inability to get government approval.Baidu, the country's top search engine company, agreed in 2020 to buy JOYY Inc's Chinese live video business YY Live for $3.6 billion. ....

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Baidu's move to cancel YY Live acquisition amid fierce market competition, tougher regulation a boon to firm's AI business expansion, analysts say

Cancelling the YY Live acquisition is expected to help Baidu put more teeth into its artificial intelligence-centric business and product strategy. ....

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Baidu Scraps $3.6 Billion Live-Streaming Deal with JOYY

Baidu's $3.6 billion deal with live-streaming platform JOYY was terminated after failing to get "necessary regulatory approvals" before the set deadline. ....

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