Baidu terminated the agreement to acquire a live streaming business of JOYY for $3.6bn.

Baidu, a Chinese search engine company, terminated the agreement to acquire a live streaming business of JOYY, a social media firm, for $3.6bn. Baidu said its $3.6bn deal for Joyy’s YY Live has expired three years after it was unveiled because regulators did not approve the transaction by December 31. The deal was previously slated to close in the first half of 2021.