Alibaba, the Chinese e-commerce giant that is building an entertainment empire, is considering hiving off some of its start-up film industry assets.
The businesses could be transferred to Alibaba Pictures Group, the film production and investment company that has its own separate share listings in Hong Kong and Singapore.
“The possible business injection would be comprised of Alibaba Group’s (i) online movie ticketing business and (ii) financing and investment platform for the production of movies and other media content, both of which commenced operations in 2014,” APG said on Wednesday.
“This new strategic direction calls for an integrated approach towards the funding, production, marketing and distribution of entertainment content,” APG said, which also stressed that the deal has not been finalized.
The proposed transfer would appear to exclude many of Alibaba’s larger and more mature film industry assets. Alibaba has major share stakes in integrated film and TV group Huayi Brothers Media, rival studio Enlight Media, Internet TV group Wasu Media, and online video platform Youku Tudou. Alibaba chairman Jack Ma’s Yunfeng investment fund also has a major stake in Hong Kong’s Media Asia.