Jack Ma, the internet tycoon, is teaming up with Hollywood director Steven Spielberg in the latest Chinese investment in the US entertainment industry.
Alibaba Pictures, a Hong Kong-listed unit of China’s largest ecommerce group, said on Sunday that it would take a minority equity stake and board seat in Mr Spielberg’s Amblin Partners, a film production and distribution company. Terms of the deal were not announced.
Amblin was established at the end of last year with investments from Anil Ambani’s Reliance Group and Entertainment One, distributor of the British animation series Peppa Pig.
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