- PV Sindhu Enters Quarter-final of Hong Kong Open Super Series
- Padmavati cleared for Dec 1 release in Britain, SC allows advocate to file fresh plea
- Bharti family pledges Rs 7000 crore towards philanthropy
- Indian Navy gets its first woman pilot, 3 women NAI officers
- Colonel arrested for raping Lt- Colonel's daughter in Shimla
- Pradyuman murder case: Ashok was beaten, tortured and sedated to force his confession, claims wife
- Election Commission grants 'two leaves' symbol to unified AIADMK
Alibaba floats a $300 mn fund for film & TV
MUMBAI: Chinese company Alibaba has established a $300 million fund for film and television.
The fund will focus on investment opportunities of companies in the movie and television entertainment industry chain under the four key pillars of production development, celebrity resources, marketing and distribution, and advanced technology.
“In recent years, the Chinese entertainment industry, which has mainly been driven by movies, has undergone rapid development. Bountiful investment opportunities and immense room for integration have emerged both upstream and downstream of the industry value chain,” said Alibaba Pictures CEO Zhang Qiang.
One of Alibaba’s recent movies was ‘Star Trek Beyond’.