Stellar Blade developer Shift Up faces potential takeover concerns from investors. Hyung-Tae Kim holds 39 percent of the company shares. Tencent controls 34.58 percent and could buy more to gain control. The Chinese giant publishes mobile games for the Korean studio.
Shift Up created Stellar Blade after making mobile games for years. The action game became a major hit and earned sequel approval. Investors worry about losing studio independence under foreign ownership. Tencent has acquired many gaming companies across different regions.
The Chinese company bought Riot Games after increasing share purchases over time. Epic Games, Ubisoft, Remedy, and FromSoftware parent Kadokawa all have Tencent investments. Mobile game revenue connects...