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Alibaba looking to buy Chinese Business News Network
Alibaba has investments in numerous media and entertainment businesses, including stakes in Youku Tudou, Enlight Media, Huayi Brothers Media and Wasu Media.
A report in Variety mentions that the separately listed Alibaba Pictures Group confirmed that it is out to buy controlling stake of Yueke Software Engineering Ltd for $134 million. The firm provides ticketing services to 1,500 cinemas and software to other online ticketing platforms.