Baidu Buys JOYY's China Live-Streaming Unit for $2.1 Billion
Baidu has bought JOYY's China live-streaming business for about $2.1 billion, reviving a deal that fell through a year ago, as the search giant doubles down on the fast-growing digital video market. The acquisition will help Baidu diversify its revenue and compete better with online entertainment rivals such as Douyin and TikTok-parent ByteDance. This move reinforces Baidu's strategic push into AI and cloud services.
- The implications of this deal for China's tech sector are significant, given the recent regulatory crackdowns and Beijing's shift towards a more supportive business environment.
- How will Baidu's expanded presence in digital video impact its long-term competitive position against ByteDance and other Chinese tech giants?