TikTok owner ByteDance in talks with Tencent, others to sell gaming assets

TikTok owner ByteDance said on Tuesday it is in talks with multiple prospective buyers of its gaming assets, including the world’s largest video games company, Tencent, as the Chinese social media firm retreats from the gaming industry.

Talks are ongoing but no deal has been reached, a ByteDance spokesperson told Reuters.

ByteDance and Tencent are discussing a deal involving multiple popular video games published by ByteDance’s Nuverse gaming unit including “Crystal of Atland” and “Earth: Revival”, local media outlet LatePost reported on Monday.