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China’s Alibaba Takes Stake in Steven Spielberg’s Amblin; Will Team On Global Pics

In the most significant move by Alibaba Pictures to date, the company has taken a minority equity stake in Steven Spielberg’s Amblin Partners. Under what is being termed a “comprehensive strategic partnership,” the production arm of Jack Ma’s China e-commerce giant will team with Amblin to co-produce and finance films for global and Chinese audiences. Alibaba Pictures will also collaborate on the marketing, distribution and merchandising of Amblin’s movies in the Middle…

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