Chinese internet giant Tencent (0700.HK) has purchased a 4.6% share of mainland film and TV producer Huayi Brothers Media (300027.SZ), AFP reported, citing a joint statement by the two firms to the Shenzhen stock exchange. Tencent bought 27.8 million shares of Huayi for around US$69.2 million. Tencent operates a variety of online services, including the popular instant messaging client QQ, an associated web portal QQ.com, a search engine, games portal and mobile portal. Huayi Bros is famous for its production of the 2010 box office hit Aftershock. The firms plan to explore ways to combine film with new media, and the investment is part of a plan Tencent announced in January to plow some US$770 million into acquisitions and investments in online gaming, e-commerce and new media companies.
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