Alibaba Pictures announces to acquire Damai and transition into the flagship offline entertainment platform of the Alibaba Digital Media and Entertainment Group
- Written by The Bulletin
HONG KONG SAR - Media OutReach - 19 September 2023 - Alibaba Pictures Group Limited ("Alibaba Pictures" or the "Company," HKEX: 1060), an integrated entertainment platform featuring "content + technology" under the Alibaba Digital Media and Entertainment Group, and Alibaba Investment Limited, a wholly-owned subsidiary of Alibaba Group Holding Limited ("Alibaba Group") (NYSE: BABA and HKEX: 9988 (HKD counter) and 89988 (RMB counter)), are pleased to announce the entry into a share purchase agreement, pursuant to which Alibaba Pictures had conditionally agreed to acquire the entire equity stake of Pony Media Holdings Inc.
