Chinese conglomerate Tencent has taken a minority stake in Skydance, the production and co-finance outfit formed by David Ellison in 2010. Terms were not revealed by the companies. But industry sources told Deadline the deal values Skydance at between $1.2B and $1.5B, meaning the minority investment is believed to be worth a nine-figure sum. The funding will enable the company to add scale and capability but does not change its strategic focus on the film side.
Tencent Takes Sizable Minority Stake In Skydance, Opening New Doors In China
Dade Hayes, Deadline.com
Thu, 01/25/2018 - 3:52pm
BING NEWS:
- Tencent, Tencent Music to pick up 10% stake in Thailand's GMM Music for US$70 million
Tencent and its controlled entity Tencent Music will buy the stake through a combination of cash and a minority stake in music streaming app JOOX Thailand, valuing GMM Music at US$700 million. In July ...
06/2/2024 - 9:11 pm | View Link - More
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