Tencent strengthens China's hold on Hollywood


China continues to strengthen it's hold on Hollywood as Tencent invests in American film studio. 

The internet group is now a shareholder in STX Entertainment, the studio behind horror/thriller films The Gift and The Boy. 

STX have released a string of successes - Bad Moms featuring star Mila Kunis is their next shot at the box office. 

According to Sky News, details of how much Tencent Holdings has actually invested will be announced later this week. 

Last month, the company confirmed a record $10 billion deal for a share in the Clash of Clans developer Supercell. 

Several high profile investments have come from China of late, capitalising on a burgeoning entertainment market in the country. E-Commerce giant Alibaba made a $300 million investment fund targeting the industry recently, which is now recognised as the second biggest movie market in the world. 


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News | December 21,2016

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