It also has a 40 percent stake in Epic Games, developer of the battle, Kristen Welker is a NBC's White House correspondent who will be moderating the second and the final presidential debate in Nashville, Tennessee, on Oct. 22. Video: Trump signs executive orders to ban TikTok and WeChat from US in 45 days (CNBC), Jefferies' Jared Weisfeld digs into Intel's earnings report. If @Apple is banned from hosting #Wechat on its China app store, sales here would plummet. League of Legends is still the most watched game on Twitch and YouTube, according to Newzoo's latest rankings, as well as the most popular game for core PC gamers with over 120 million active players worldwide. Wouldn't be the first time. Tencent was an early investor in Riot Games and its distributor for League of Legends in China. ", Like us on Facebook to see similar stories, Michael Jordan opens second medical clinic in Charlotte, Workers who lost jobs because of COVID-19 find new careers in these fields, Trump signs executive orders to ban TikTok and WeChat from US in 45 days, Trump Signs Executive Order That Will Ban Chinese Apps TikTok And WeChat In 45 Days, Tencent Loses $35bn after Trump Executive Order but 'Fortnite,' 'League of Legends' Unaffected, The Trump administration's move to stop U.S. entities from making "transactions" with the app's owners—, Stock prices plunged by about 10 percent in Hong Kong but closed down around half that figure after it was clarified that, The executive order's fine print was ultimately vague, indicating that after 45 days any transactions to. For a few hours last night, the wording of the executive order was nebulous enough where it seemed like Trump may have inadvertently decimated huge chunks of the video game industry by banning transactions with WeChat’s Tencent. Epic Games, maker of Fortnite, where Tencent has a 40% stake. Tencent owns Riot Games, developer of the popular and lucrative League of Legends mobile game. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change. company Tencent had a stake in. Returns as of 10/23/2020. Last night, President Trump shocked most of the world by signing an executive order targeting not just TikTok, but also WeChat, two massive Chinese platforms, and also their parent companies, ByteDance and Tencent. The administration also said the app collects the personal and proprietary information of Chinese nationals visiting the U.S., giving the government a way to track citizens who "may be enjoying the benefits of a free society for the first time in their lives.". She is known for her dynamic questioning in White House press briefings and has years of experience moderating crowded roundtables. In 2011, it acquired a 93% stake in Riot for $400 million and the remaining 7% in 2015 for an undisclosed sum. Research has repeatedly shown how WeChat regularly censors certain keywords in its chats. A Tencent spokesperson told CNN the company "is reviewing the executive order to get a full understanding.". Tencent asked Riot to develop a mobile version of League of Legends several years ago. Bank of America to Start Charging $5 Monthly Fee for Debit Card Use, Top 20 Capital Cities With The Deadliest Air Pollution. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Stock Advisor launched in February of 2002. League of Legends was initially launched in 2009 on PCs. Here’s the text of the order: “…any transaction that is related to WeChat by any person, or with respect to any property, subject to the jurisdiction of the United States, with Tencent Holdings Ltd.”. She is the first Black woman to moderate the event solo since Carole Simpson in 1992. News and opinion about video games, television, movies and the internet. Tencent, a vast conglomerate holding company with a $500 billion market cap, either owns or has stakes in several large video game developers and publishers.

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