It’s not often that Alibaba CEO Jack Ma teams up with market-rival Tencent, but if anything can bring the two together as of late it’s a mutual investment in the entertainment industry. 

Tencent Holding Ltd., Yunfeng Capital and Huayi Brothers Media Corp. have joined forces to buy a controlling stake in a Hong Kong shell company that previously traded as a retirement-home developer, the companies revealed on Thursday.

Mr. Ma owns a 40% stake in Yunfeng Capital, while both Alibaba and Tencent are investors in Huayi. The new company, called China Jiuhao Health Industry Corp., will use the shares to form a media content business. 

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com