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  1. phil

    Alibaba founder, partners spending $1.05B on stake in TV firm

    05:55 PM ET · ABABA

    • An investment group led by Alibaba (ABABA) founder Jack Ma is buying a 20% stake in Chinese TV network owner Wasu Media for RMB6.54B ($1.05B).
    • Alibaba will help finance the deal with a loan, and will also partner with Wasu to develop Internet TV services and other Web content.
    • Last month, the Chinese e-commerce giant spent $805M to buy a 60% stake in film/TV drama producer ChinaVision Media, as it tries to play catch-up in a Chinese online video market led by Youku, Baidu, Sohu, and Tencent.
    var isMC=true; var adSize=’320×50′; var ord = Math.floor(Math.random()*10e12); var seekingalpha_ad_src=’http://ad.doubleclick.net/N6001/adj/sek.mobile/app;sz=320×50,320×250;x=x;tile=1;d=mobile;t=app;mcid=true;mcid=1666083;s=ABABA;’+dart_my_vocation_and_profiles()+’ord=’+ord+’;dev=ip?’; document.write(”);



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