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Alibaba Affiliate Drops $1B On Chinese TV Co. Stake

By Chelsea Naso (April 8, 2014, 1:46 PM EDT) -- An investment firm owned by founders of Alibaba Group Holding Ltd. will shell out 6.54 billion yuan ($1.05 billion) for a 20 percent stake in Chinese Internet TV company Wasu Media Holding Co. Ltd., according to Tuesday media reports citing a filing with the Shanghai Stock Exchange, marking the e-commerce giant's latest expansion....

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