Jack Ma Teams With Arch-Foe Tencent on China, Hollywood Films December 11, 2015 — 4:38 AM EST Tencent Holdings Ltd., e-commerce billionaire Jack Ma and movie studio Huayi Brothers Media Corp. will pool their assets and create a Hong Kong-listed company to develop films and entertainment for China and abroad. Tencent, Huayi and Ma’s Yunfeng Capital have made a HK$547 million ($70.6 million) offer to buy a controlling stake in a shell company called China Jiuhao Health Industry Corp., the companies announced Thursday. If successful, they intend to use the shares of what has been a retirement-home developer to create a media and “cultural” business and produce original content. First up is a slate of 10 live-action films and three animated features to be created in conjunction with unidentified U.S. production houses, they said. The deal marks another rare alliance between the co-founder of Alibaba Group Holding Ltd. and Tencent founder Pony Ma, whose rivalry spans a decade. It comes as Chinese companies expand aggressively into online services to stream video games, TV and movies and court Hollywood studios. http://www.bloomberg.com/news/artic...th-tencent-on-china-hollywood-film-production
