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Chinese giant Alibaba mulls part sale of film assets

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NEW DELHI: The Chinese e-commerce giant Alibaba, which is now investing a major share in the entertainment sector, is considering selling of some of its start-up film industry assets.

The businesses could be transferred to Alibaba Pictures Group (APG), the film production and investment company that has its own separate share listings in Hong Kong and Singapore. 

Alibaba has major share stakes in integrated film and TV group Huayi Brothers Media, rival studio Enlight Media, Internet TV group Wasu Media, and online video platform Youku Tudou. 

Alibaba chairman Jack Ma’s Yunfeng investment fund also has a major stake in Hong Kong’s Media Asia, according to Variety.

“The possible business injection would be comprised of Alibaba Group’s (i) online movie ticketing business and (ii) financing and investment platform for the production of movies and other media content, both of which commenced operations in 2014,” APG said in a statement. 

However, the deal is yet to be finalized, as APG said, “This new strategic direction calls for an integrated approach towards the funding, production, marketing and distribution of entertainment content.” 

The proposed transfer would appear to exclude many of Alibaba’s larger and more mature film industry assets. 

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