Alibaba Pictures

Alibaba Pictures Group is a Chinese film company under Alibaba Group. The film company was formerly ChinaVision Media, of which Alibaba Group bought a majority stake in late 2014. It subsequently renamed ChinaVision as Alibaba Pictures Group. Alibaba Pictures will distribute Wolf Totem and The Ferryman in 2015. As of April 2015, it was the largest Chinese film company by worth, with a market value of US$8.77 billion.[1]

Background

In March 2014, Alibaba Group bought a 60% stake in ChinaVision Media for $805 million.[2] Alibaba initially registered a film company in the following April with the name Alibaba Films Group before changing it to Alibaba Pictures Group later in the month. Two heads from ChinaVision were listed as directors of Alibaba Pictures.[3] In June 2014, ChinaVision Media was officially renamed to be Alibaba Pictures Group.[4] The following July, Zhang Qiang resigned as vice president of China Film Group to become the head of Alibaba Pictures.[5] Later in the month, Alibaba Pictures entered agreements with filmmakers and film companies, including director Wong Kar Wai and the Hong Kong-based film production company Block 2.[6]

Filmography

References

  1. ↑ Patrick Frater (April 9, 2015). "Chinese Media Stocks Stage Major Rally in U.S. and Asian Markets". variety.com. Retrieved April 14, 2015.
  2. ↑ Osawa, Juro (May 12, 2014). "Is Alibaba Going Into the Movies?". The Wall Street Journal. Retrieved January 28, 2015.
  3. ↑ Staff (May 12, 2014). "China's Alibaba registers film company in Hong Kong". reuters.com (Reuters). Retrieved January 28, 2015.
  4. ↑ Ying, Huang; Jing, Meng (June 3, 2014). "ChinaVision becoming Alibaba Pictures". China Daily. Retrieved January 28, 2015.
  5. ↑ Chu, Kathy (July 17, 2014). "Alibaba Hires Zhang Qiang to Run Alibaba Pictures Production Company". The Wall Street Journal. Retrieved January 28, 2015.
  6. ↑ Frater, Patrick (July 20, 2014). "China’s Alibaba to Finance Wong Kar Wai Movie Slate". Variety. Retrieved January 28, 2015.

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