Joyy (YY) announced that it entered into agreements with Baidu (BIDU) with respect to the sale of the video-based entertainment live streaming business in mainland China previously owned by the company, known as YY Live, for an aggregate purchase price of approximately $2.1B in cash. The company previously received approximately $1.86B in February 2021, and, on February 25, the company received additional cash consideration of approximately $240M.
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