Tencent Is on the Lookout for Hollywood Deals

Tencent Pictures, the film unit of China’s biggest internet company, is looking for acquisitions that can accelerate plans to make its own blockbusters instead of just writing checks for them.

The potential targets could be in Hollywood and include companies on both the creative and production sides of movie making, Chief Executive Officer Edward Cheng said in an interview. He wouldn’t elaborate except to say Tencent Pictures considers whether a target complements its own abilities and resources.