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China's Internet Titan Tencent Invests $69 Million in Film Studio Huayi Brothers

9:49 PM PDT 5/10/2011 by Jonathan Landreth

The messaging and game giant brings China's film and Internet businesses closer than ever before.

BEIJING – China’s largest Internet company, the instant messaging and online gaming giant Tencent, made its first investment in the film business, paying $69 million for a 4.6 percent stake in Huayi Brothers Media to become the largest institutional shareholder in the country’s biggest non-state film company.

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