Tencent plans $295m investment for Hollywood, Chinese movie projects

Tencent plans $295m investment for Hollywood, Chinese movie projects

Tencent company name is displayed at a news conference in Hong Kong, China March 17, 2016. REUTERS/Bobby Yip

Tencent Holdings Ltd.’s main movie arm plans to spend at least 2 billion yuan ($295 million) investing in Hollywood and Chinese films in the two years through 2017 to expand its presence in global entertainment production, according to people familiar with the matter.

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