Goldman Sachs & Co. LLC acted as financial advisor and Latham & Watkins LLP acted as legal advisor to Skydance. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to Tencent.
Skydance Media, LLC, a diversified media company that creates elevated, event-level entertainment for global audiences across multiple platforms, and Tencent Holdings Limited, a leading provider of Internet value added services in China, have entered into a partnership, with Tencent making a strategic investment in Skydance Media.
The investment is part of a broader strategic partnership, which provides a global platform for project-level collaboration and will also allow Skydance to access Tencent’s expertise in Asia and gaming to further build out its presence in these markets.
Partnership initiatives will include the opportunity for Tencent to co-finance Skydance films, as well as to market, distribute and merchandise in China. The partnership also supports collaboration on other media initiatives, including television, interactive and virtual reality.
Skydance has developed valuable brands across its four pillars of Film, Television, Animation and Interactive entertainment. They are currently in production on the new Mission: Impossible film starring Tom Cruise, directed by Christopher McQuarrie; Gemini Man starring Will Smith, directed by Ang Lee; the next Terminator film produced by James Cameron, directed by Tim Miller; and two animated films – Luck, written by Jonathan Aibel and Glenn Berger, directed by Alessandro Carloni and Split written by Linda Woolverton, directed by Vicky Jenson.
In addition, Skydance produces and retains the rights to several of the most-successful action, adventure and science fiction franchises of all time, including Star Trek, G.I. Joe, World War Z and Top Gun contributing to nearly $5 billion in worldwide box office.
The Paul, Weiss team included corporate partners Jeanette Chan (Picture) and counsel David Lee; intellectual property partner Chuck Googe; and employee benefits counsel Reuven Falik.
Involved fees earner: Jeanette Chan – Paul Weiss Rifkind Wharton & Garrison; David Lee – Paul Weiss Rifkind Wharton & Garrison; Charles Googe – Paul Weiss Rifkind Wharton & Garrison; Reuven Falik – Paul Weiss Rifkind Wharton & Garrison;
Law Firms: Paul Weiss Rifkind Wharton & Garrison;
Clients: Tencent Holdings Inc.;