China tech giant Tencent buys some assets of streaming service iflix

KUALA LUMPUR (AFP): Chinese internet giant Tencent said Thursday (June 25) it had bought some assets of struggling Asian streaming service iflix, in a major expansion of its online video presence in the region.

Western firms, led by Netflix, dominate streaming globally but companies from the world's number two economy have been taking tentative steps outside their home market recently.