Per the report, Tencent is accused of infringing on the rights of Mobile Legends: Bang Bang, one of the biggest mobile titles in Southeast Asia and faces allegations that include rights to authorship, reproduction and communications regarding the game.

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Layden said he is to “advise, assist, and support the team at Tencent as they deepen their activities and commitments within the industry” in an official announcement he made on his LinkedIn page.

“We are at an epoch defining moment in gaming and interactive entertainment. There are many possible roads ahead but only a few are profound, broadening, inclusive, edifying, inspiring, and/or sustainable. I am thrilled to continue this journey of discovery and thank Tencent for the opportunity.”

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According to GamesIndustry.biz, editor-in-chief Danielle Riendeau, head of media/editor-at-large John Warren, and features editor Elise Favis were among those laid off, with Riendeau announcing her departure on Twitter.

“Hi friends. I just want to say it’s been a true honor and pleasure to be the editor in chief of Fanbyte. I think we did some special things there! I am…currently looking for work,” she wrote on her page.

Favis also tweeted: “I’ve been laid off from Fanbyte”

“Incredibly proud of everything I got to do there, and with everyone I have worked with — these are the most talented folks in games media, and I’m honored I got to be there while I could.”

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Tencent already held a 4.5% stake in Ubisoft, but now moves to obtain more control as Ubisoft prepares it’s next slate of game releases. The deal stats that Tencent can reportedly raise its stake in Ubisoft up to 9.99%.

Ubisoft released the following statement:

“The expansion of the concert with Tencent further reinforces Ubisoft’s core shareholding around its founders and provides the company with the stability essential for its long-term development.” said Yves Guillemot, CEO and Co-Founder, Ubisoft.

“In a context where platforms and business models are converging, this transaction, which validates our strategy and highlights the strong intrinsic value of the assets we have built over the long term, is excellent news for our teams, gamers and shareholders. Tencent is a key shareholder partner for many of the industry’s leaders, who have created some of the most outstanding video games. This transaction reinforces our ability to create strong value over the coming years.”

“The team at Ubisoft has shown an impressive ability to consistently create world-class entertainment along with a diverse portfolio of brands that include some of the most successful franchises in the industry,” said Martin Lau, President of Tencent. “We are excited to expand our engagement with the founders, the Guillemot family, as Ubisoft continues to develop immersive game experiences, and to bring some of Ubisoft’s most well-known AAA franchises to mobile. This agreement also aligns with our philosophy to invest alongside creative founders with full confidence that they will lead their companies to new heights.”

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The report, which cites “four sources with direct knowledge of the matter”, claims that Tencent wants to become the single largest shareholder in Ubisoft, the publisher for many popular titles, and is willing to pay up 10 $102 per share to facilitate a deal in the latest video game stock news reports.

“Tencent is very determined to nail down the deal as Ubisoft is such an important strategic asset for Tencent,” one reported source says.

Ubisoft shares opened today’s trading at $43.03, and following the report by Reuters, Ubisoft shares were trading up 15% at $49.24.

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