Alibaba Buys $1.2 Billion Stake in Wanda Film

TVOvermind | 2/9/2018 | Nat Berman
Click For Photo: http://www.tvovermind.com/wp-content/uploads/2018/02/wangjianlinwanda.jpg

Alibaba, the Chinese e-commerce giant, intends to purchase a stake in Wanda Film which is worth $1.2 billion. Wanda Film is the Chinese division of the Dalian Wanda Group and is one of the largest filmmakers in the country. The purchase of these shares will make Alibaba the second biggest shareholder in the company with a 7% share of the firm. Wanda Film has also received investment from the Chinese government backed Beijing Cultural Investment Holdings. They have paid around $800,000,000 for a 5% share of the company. It is expected that these investments will be used to provide the budget for films that will be a real success at the box office.

The founder of Alibaba, Jack Ma has had a long standing interest in the Chinese film industry. The investment has come at the right time as the Chinese film industry is undergoing unprecedented growth at the moment. It is estimated that by 2020 box office revenues in China will be greater than those in North America. Some of this is undoubtedly due to the fact that there are more Chinese movies being made than ever before. This is an industry that has not even begun to start to reach its potential yet and it is those who have invested at the beginning that are going to see the biggest rewards.

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(Excerpt) Read more at: TVOvermind
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