BIDU-SW (09888) acquires JOYY's live streaming business in China.

BIDU-SW(09888) announced on February 25, 2025, that Baidu has signed an agreement with Huanju Group and acquired the mainland China video entertainment live streaming business (YY Live) previously owned by JOYY. Baidu has paid a total acquisition price of approximately $2.1 billion. As part of the transaction, the total amount of approximately $1.6 billion previously deposited in a custodial account by Baidu under a share purchase agreement (which is no longer valid) has been fully released to Baidu. Baidu plans to invest the released funds in its cloud and AI infrastructure.