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Alibaba Group (BABA) is stepping up its efforts to get a bigger piece of the entertainment business in China. The leading e-commerce company in China is investing about $382 million for an 8.8% share of Enlight Media, a leading film and TV production and distribution company in China, according to a news report from Rapid TV News on Thursday. Alibaba, however, hasn’t made any official announcement. Alibaba stock was down 1% in midday trading in Scalper1 News
Scalper1 News