Rumors fly over Tencent foray

Business | Agencies and Winnie Lee 4 Jun 2020

Tencent (0700) has allegedly bought a 70 percent to 80 percent stake in Czech Republic-based videogame developer Bohemia Interactive for around US$260 million (HK$2.03 billion), according to a person familiar with the matter.

Bohemia Interactive was established in 1999. In 2001, the studio launched the first major game, Arma: Cold War Assault. Its repertoire also include DayZ and Arma 3.

The company's head of marketing, Petr Polacek, denied the acquisition, and Tencent made no comment.

Separately, China Literature (0772), which is backed by Tencent, has published a new agreement with its writers, stating clearly that the writers have the rights of copyright and adaptation. China Literature revised a dozen of the terms and emphasized that the platform and the writers are a cooperative partnership, adding that revenue will be distributed after negotiations.

There was conflict regarding the previous agreement after Tencent joined the management of China Literature. Previously, the terms stated that the copyright belonged solely to China Literature, and that no revenue would be distributed. Writers fought back by not updating their fiction. China Literature shares rose 5.99 percent.

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