BEIJING (AFP) - Chinese Internet giant Tencent said on Friday it will take a stake in the US production company behind the Mission: Impossible and Terminator series, marking China's latest incursion into Hollywood.

The deal will give Tencent the opportunity to co-finance Skydance Media films, which will benefit from the Chinese firm's distribution and marketing in the world's second-largest movie market.

Founded in 2010, Skydance has produced 15 films, most in collaboration with Paramount Pictures, including the Star Trek franchise.

It is preparing to release sequels to the Mission: Impossible, Terminator and Top Gun sagas in the next two years.

Tencent has become one of the world's most valuable companies, raking in profits from its addictive mobile game Honour Of Kings and WeChat, China's most popular social media app that has nearly a billion users.

It has already made inroads into the movie business, investing in last year's Hollywood blockbuster Kong: Skull Island.

The move comes after conglomerate Dalian Wanda snatched up Legendary Entertainment - maker of Jurassic World and Christopher Nolan's Batman trilogy - and US-based cinema chain AMC Theatres.