Two Epic Directors Resign Amid DOJ Antitrust Probe

Tencent, the well-known Chinese tech and entertainment behemoth, recently made waves by removing two directors from Epic Games’ board. This move comes on the heels of an investigation by the U.S. Department of Justice (DOJ) into potential antitrust law violations.

The DOJ issued a statement highlighting that these board members breached Section 8 of the Clayton Act. This particular section clearly states that an individual cannot serve as a director at two rival companies simultaneously. In this scenario, Epic Games and Tencent were the companies in question.

Thanks to the DOJ’s investigation, Tencent decided to alter its shareholder agreement with Epic Games. This change means that Tencent will no longer have the power to appoint directors to the board of the company behind Fortnite.

Miriam R. Vishio, who serves as the deputy director of civil enforcement in the DOJ’s antitrust division, emphasized their continued focus on addressing such board interlocks. She acknowledged the hard work of their team, noting that their stepped-up enforcement of Section 8 in recent years has yielded significant outcomes and is now embedded in their operational approach.