BEIJING (AP) — Chinese e-commerce giant Alibaba is expanding into media by acquiring control of a Hong Kong film and television company, ChinaVision, for $804 million.
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Chinas largest e-commerce company Alibaba Group Holding has agreed to buy a controlling stake in ChinaVision Media Group Ltd for $804 million, giving it access to TV and movie content as competition in the worlds biggest Internet market becomes increasingly cutthroat. The pact, which sent ChinaVisions stock surging, comes amid a flurry of deals as […]
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HONG KONG (Reuters) – Shares of ChinaVision Media Group Ltd are set to open up 290 percent after China’s largest e-commerce company Alibaba Group Holding agreed to buy a controlling stake in the Hong Kong-listed television program services supplier. Shares of ChinaVision, which were suspended on February 25 and resumed trading on Wednesday, are set […]
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