Tencent invests in film and VR maker Skydance Media.
Tencent Holdings is investing an undisclosed amount of money in Skydance Media, a Hollywood entertainment studio that makes everything from Terminator movies to the Archangel virtual reality game.
Skydance Media was started in 2010 by David Ellison, the son of Oracle founder Larry Ellison. The company has made feature films including Mission: Impossible — Rogue Nation, Terminator Genisys, World War Z, and Star Trek Into Darkness. Skydance films have generated more than $5 billion in box office revenues.
And in 2017, the company began branching out into games with Skydance Interactive, with a focus on virtual reality. I recently interviewed Skydance Interactive executive vice president Chris Hewish about how Skydance is doubling down on VR.
“We are thrilled and honored to be entering into a strategic partnership with Tencent, whose global reach and position within the Chinese marketplace is truly unmatched”, said Skydance CEO David Ellison in a statement. “Skydance has experienced a tremendous amount of growth since our inception in 2010, and we’re excited that our next phase of expansion will be in partnership with a company that shares our vision for where entertainment is heading.”
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