{"id":6339,"date":"2024-12-19T03:14:51","date_gmt":"2024-12-19T03:14:51","guid":{"rendered":"https:\/\/tech.newat9.com\/index.php\/2024\/12\/19\/epic-games-board-members-resign-amid-doj-antitrust-inquiry\/"},"modified":"2024-12-19T03:14:51","modified_gmt":"2024-12-19T03:14:51","slug":"epic-games-board-members-resign-amid-doj-antitrust-inquiry","status":"publish","type":"post","link":"https:\/\/tech.newat9.com\/index.php\/2024\/12\/19\/epic-games-board-members-resign-amid-doj-antitrust-inquiry\/","title":{"rendered":"Epic Games Board Members Resign Amid DOJ Antitrust Inquiry"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n\t\t\t\t\t\t<!-- do not apply CSS styles to this element! --><\/p>\n<div class=\"pmc-paywall\">\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tTwo <a href=\"https:\/\/variety.com\/t\/epic-games\/\" id=\"auto-tag_epic-games\" data-tag=\"epic-games\" target=\"_blank\" rel=\"noopener\">Epic Games<\/a> board directors have resigned from their positions amid an antitrust inquiry by the Justice Department. The board members had been appointed to the privately held company\u2019s board by minority investor <a href=\"https:\/\/variety.com\/t\/tencent\/\" id=\"auto-tag_tencent\" data-tag=\"tencent\" target=\"_blank\" rel=\"noopener\">Tencent<\/a>, which is the China-based owner of Epic competitor Riot Games.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tEpic Games, which also counts Disney among its investors, is the owner of popular online gaming platform <a href=\"https:\/\/variety.com\/t\/fortnite\/\" id=\"auto-tag_fortnite\" data-tag=\"fortnite\" target=\"_blank\" rel=\"noopener\">Fortnite<\/a> and the creator of Unreal Engine, the industry\u2019s top tech used to build video games.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tAccording to a press release issued by the DOJ Wednesday, the government body\u2019s antitrust division \u201cexpressed concerns\u201d that the unnamed individuals\u2019 positions on both the Epic and Tencent boards \u201cviolated\u201d Section 8 of the Clayton Act, which \u201cprohibits directors and officers from serving simultaneously on the boards of competitors, subject to limited exceptions.\u201d<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\t\u201cScrutiny around interlocking directorates continues to be an enforcement priority for the Antitrust Division,\u201d said Miriam R. Vishio, DOJ antitrust division deputy director of civil enforcement. \u201cDue to the hard work of our tremendous staff, our increased enforcement around Section 8 over the last few years has achieved substantial results and become part of our fabric.\u201d<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tAmid the board director resignations, Tencent has \u201cdecided to amend its shareholder agreement with Epic to relinquish its unilateral right to appoint directors or observers to the Epic board in the future.\u201d<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\t\u201cThe two Tencent-nominated Board Directors who had a minority of board votes voluntarily resigned from Epic\u2019s Board earlier this year based on the US Department of Justice\u2019s expressed concerns related to Section 8 of the Clayton Act,\u201d a spokesperson from Epic Games said in a statement to <em>Variety<\/em>. \u201cWe are grateful for their service on Epic\u2019s Board. Two new independent board members will be nominated by committees of Epic\u2019s shareholders.\u201d<\/p>\n<\/div><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/variety.com\/2024\/gaming\/news\/epic-games-board-members-resign-tencent-doj-antitrust-1236254197\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two Epic Games board directors have resigned from their positions amid an antitrust inquiry by the Justice Department. The board [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/tech.newat9.com\/index.php\/wp-json\/wp\/v2\/posts\/6339"}],"collection":[{"href":"https:\/\/tech.newat9.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tech.newat9.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tech.newat9.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tech.newat9.com\/index.php\/wp-json\/wp\/v2\/comments?post=6339"}],"version-history":[{"count":0,"href":"https:\/\/tech.newat9.com\/index.php\/wp-json\/wp\/v2\/posts\/6339\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tech.newat9.com\/index.php\/wp-json\/wp\/v2\/media\/6340"}],"wp:attachment":[{"href":"https:\/\/tech.newat9.com\/index.php\/wp-json\/wp\/v2\/media?parent=6339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tech.newat9.com\/index.php\/wp-json\/wp\/v2\/categories?post=6339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tech.newat9.com\/index.php\/wp-json\/wp\/v2\/tags?post=6339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}