China’s Honour of Kings publisher buys stake in studio that produces Mission: Impossible
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, firms said in a statement.
It 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 US$100 million for a stake of 5 to 10 per cent.
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.
