Tencent, parent company of China’s biggest social network WeChat and, by revenue, the biggest global online game business, is also an entertainment titan, with China’s biggest online businesses in music, literature, comics and animation. Tencent Pictures, which invested in last weekend’s smash hit “Wonder Woman,” and “Kong: Skull Island,” is key to Tencent’s effort to become a global player in feature filmmaking. The company is also investing heavily in Silicon Valley projects so as not to miss out on the next big thing. Continue reading China’s Tencent Invests in Feature Films, U.S. Tech Startups

Alibaba Pictures Group and Dalian Wanda Group have been spending big to acquire Hollywood companies, in their quest to make homegrown movies and capture a bigger portion of that nation’s huge box office. Now, Tencent Pictures, the film unit of China’s biggest Internet company, has joined that fraternity, with chief executive officer Edward Cheng saying acquisition targets could be in Hollywood and include creative and/or production companies. China’s box office is projected to reach $10.4 billion in 2017. Continue reading China’s Tencent Pictures Seeking New Hollywood Acquisitions