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Alibaba signs partnership deal with Spielberg's Amblin

Monday 10 October 2016 | 09:44 CET | News
Steven Spielberg's Amblin Partners has signed a partnership deal with Jack Ma's Alibaba Group to produce, finance and distribute movies, the Wall Street Journal reported. Under the deal, Alibaba Pictures will take a minority equity stake in Amblin and gain a seat on its board. Alibaba will help Amblin distribute its movies in China, while Alibaba will rely on Amblin to become a bigger part of Hollywood's production and distribution scene. The companies will also work on developing virtual reality and bring mobile and IoT experiences to the cinema.No financial details were disclosed.

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Categories: Broadcast & Satellite / Internet
Companies: Alibaba
Countries: China
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