In an entertainment industry full of uncertainty, few movies seemed as sure a bet as a sequel to the 1986 classic “Top Gun.”

The Chinese tech firm Tencent Holdings in 2019 signed on to co-finance the film, which the Shenzhen-based conglomerate hoped would yield a windfall at the box office. Yet when “Top Gun: Maverick” hits theaters this weekend, it will do so without any financing from Tencent, and without any mention of the Chinese firm that had once boasted of its involvement in the film.

This post first appeared on wsj.com

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