Alibaba To Take $804M Stake In TV, Film Co. ChinaVision

Law360, New York (March 11, 2014, 2:04 PM EDT) -- Alibaba Group Holding Ltd., China's biggest online retailer, will buy a majority stake in TV and film production company ChinaVision Media Group Ltd. for HK$6.24 billion ($804 million) as it consolidates in the face of challengers, according to a Tuesday filing.

Alibaba will acquire 60 percent of ChinaVision, according to ChinaVision's filing with the Hong Kong Stock Exchange. The price per share represents a 20.6 percent discount to the Feb. 24 closing price. ChinaVision will issue 2.5 billion new shares to Alibaba, going for 50 Hong...
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