Tencent to Invest RMB 500m in Film/TV Production

Tencent (0700.HK) plans to invest RMB 500 million in film and TV production over an unspecified time period, Beijing Business Today reported April 14 citing an unnamed source. It has contacted sector giants including China Film Group Corporation and Huayi Brothers Media (300027.SZ) and may set up a subsidiary for the business specifically, said the report.

The investment will comprise a part of the company's RMB 5 billion new media investment fund, established in January, according to the report.