China’s Alibaba Outlines Plans For Film Business
Chinese online retail giant Alibaba, which has just filed for a $1 billion initial public offering, will change the name of the ChinaVision media group it bought in March to Alibaba Film Group, as it steps up its expansion into the film business. China Business News reported, that the company is planning to invest in eight to 10 films every year, three to five long TV dramas and the same number of web-only dramas.
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