YY: Baidu buys livestreaming site for $2.1bn a year after shelving deal

Beijing (AFP) Feb 25, 2025Chinese internet giant Baidu said on Tuesday it had purchased social media platform JOYY Inc's livestreaming business for $2.1 billion, a year after it cancelled a deal partly because it failed to get government approval. The price Baidu said it had paid, detailed in a Hong Kong stock exchange filing, was around 60 percent of what it had agreed in 2020 to pay for the mainland China service.