China’s Alibaba sets entertainment deal with Lionsgate

July 15, 2014 8:35 AM

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China’s Alibaba sets entertainment deal with Lionsgate

Alibaba and US-based entertainment company Lionsgate on Tuesday announced plans for a movie and television streaming service in mainland China, as the Chinese Internet giant expands beyond its e-commerce core.

Alibaba, whose flagship site Taobao holds more than 90 percent of China’s online consumer-to-consumer market, is preparing for a multi-billion-dollar stock offer on the New York Stock Exchange that could rival Facebook’s flotation.

Also read: Alibaba Financial Affiliate Seals Bank Deals for Alipay Expansion in Europe

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