Tencent film unit aspires to make own blockbusters

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 moviemaking, 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.

"Investment is one of many ways to drive our business," Cheng, 42, said. "We expedite our business development via suitable mergers and acquisitions. If it helps our growth at the right time, we are very open in that regard."