(Reuters) – Live streaming platform operator DouYu International said on Tuesday its CEO Shaojie Chen was arrested by Chengdu police on Nov. 16.
The company has not received any official notice of investigation against Chen or reason for arrest, according to DouYu.
Backed by Chinese tech giant Tencent, DouYu is the leading video game streaming platform in China by number of users.
DouYu warned on Tuesday that its CEO’s ongoing detention and possible legal proceedings may have material adverse impact on the company’s business and operations.
The company said it will work on contingency plans following the arrest.
In 2020, Tencent proposed a merger between Douyu and its rival Huya, which Tencent also controls, to form a $10 billion streaming behemoth to rival Amazon’s Twitch in the U.S. before the deal was blocked on antitrust grounds in 2021.
(Reporting by John Biju in Bengaluru and Josh Ye in Hong Kong; Editing by Shounak Dasgupta)