SHANGHAI: Alibaba and US-based entertainment company Lionsgate on Tuesday announced plans for a movie and television streaming service in mainland China, as the Chinese Internet giant expands beyond its e-commerce core.
Alibaba, whose flagship site Taobao holds more than 90 percent of China’s online consumer-to-consumer market, is preparing for a multi-billion-dollar stock offer on the New York Stock Exchange that could rival Facebook’s flotation.
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