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Story summary
- ByteDance is in talks to sell its Shanghai Moonton Technology studio to Saudi Arabia's Savvy Games Group for $6 billion to $7 billion, with closing this quarter.
- The sale marks ByteDance's retreat from gaming after a 2023 strategic review.
- Moonton, known for Mobile Legends: Bang Bang, has over 1.5 billion downloads and 110 million monthly active users.
- ByteDance bought Moonton in 2021 for $4 billion to compete with larger rivals.
