Beijing — Chinese internet giant Tencent said on Friday it will take a stake in the US production company behind the Mission: Impossible and Terminator series, marking China’s latest incursion into Hollywood. The deal will give Tencent the opportunity to co-finance Skydance Media films, which will benefit from the Chinese firm’s distribution and marketing in the world’s second-largest movie market, the companies said. They did not provide financial details but the Los Angeles Times cited an unidentified source familiar with the deal as saying Tencent had paid more than $100m for a stake of 5%-10%. Founded in 2010, Skydance has produced 15 films, most in collaboration with Paramount Pictures, including the Star Trek franchise. It is preparing to release sequels to the Mission: Impossible, Terminator and Top Gun sagas in the next two years. Tencent has become one of the world’s most valuable companies, raking in profits from its addictive mobile game, Honour of Kings, and WeChat, Chin...
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