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Alibaba puts billions of dollars in expanding media empire

Alibaba puts billions of dollars in expanding media empire

The Chinese internetgigant Alibaba will cross in the coming years, billions in the expansion of his media empire. According to the new ceo Yu Yongfu of the media and entertainmenttak of Alibaba is the war chest for the next three years filled with 50 billion yuan (around 6.9 billion euro).

Alibaba puts more and more money in entertainment, that is an important part of the growth strategy of the company. The group tries under more foot on the ground to get in Hollywood. It put more money in the new Mission Impossible movie. Also bought the company itself in production company Amblin ners, which also has the support of Steven Spielberg.

Below more video website Youku Tudou and web browser UCWeb are part of Alibaba Digital Media & Entertainment Group in October on its own legs. At the time, was part of a pocket money of 10 billion yuan. It is not clear whether that money is part of the Thursday announced investment.

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