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Tencent Tangos With Hollywood’s Skydance Media

A still from the movie
A still from the movie "Star Trek Beyond," which was produced by Skydance Media, the company in which Tencent recently bought a minority stake. Tencent Holdings Ltd., which owns the popular WeChat messaging app and three major music streaming platforms, is well on its way to establishing a media empire spanning video games, feature films, and book adaptations. Photo: VCG

Tencent Holdings Ltd. has made a strategic investment in U.S.-based Skydance Media, LLC, the companies announced Friday (Beijing time).

The investment is part of a partnership that will see Tencent co-financing Skydance films and marketing Skydance products in China, the statement said.

No amount was disclosed in the statement, although the Los Angeles Times reported that Tencent was buying a 5% to 10% stake in Skydance, citing a source close to the deal.

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