Alibaba goes all out to boost its entertainment offerings by taking a stake in ChinaVision Media
11/03/2014
It is clear that Chinese e-commerce giant Alibaba wants to branch out further into digital entertainment — last year it acquired (...)
It is clear that Chinese e-commerce giant Alibaba wants to branch out further into digital — last year it acquired social music-streaming service Xiami and developed a smart TV operating system, while this year it stepped into mobile games. Now Alibaba has agreed to pay $804 million for a majority stake in ChinaVision Media Group, a Hong Kong firm specializing in TV and film production. This could very possibly mean that Alibaba may soon be taking steps to produce content in collaboration with ChinaVision. After all, throughout last year, Chinese tech firms were already taking steps to make their mark within the online video space,... This story continues at The Next Web