On the evening of October 12, Huya and Douyu jointly announced the merger. At this point, more than a year after being rumored to merge, two major domestic live streaming platforms Huya and Douyu finally put down their feud and became a family. Under the merger agreement, Huya will acquire all of Douyu’s outstanding shares, including common shares represented by American depositary receipts through a share-for-share merger. The shares and ADS issued by Douyu prior to the merger will be cancelled, and Douyu will become a wholly owned subsidiary of Huya and will be delisted from NASDAQ. If the merger is completed, Dong Rongjie, current CEO of Huya, and Chen Shaojie, current CEO of Douyu, will become co-CEOs of the combined company, with Chen shaojie becoming the tenth member of Huya’s board.
