Sunday, 9 October 2016

China's richest man strikes huge deal with hollywood heavy weight

Two heavy weights going into business!!
Billionaire and China's richest man Jack Ma is planning something big. He and heavy weight film maker Steven Spielberg are trying to bring American cinema to China 'the world's most populous country.'

Dailymail gathered that the deal represents Ma's most ambitious foray to date into the world of film. Ma's Alibaba is buying a stake in Amblin Partners. Amblin partners is a production studio backed by Speilberg with the goal of marketing and distributing films internationally and in China.

The news is significant to not only Ma but to the whole of China because it is at a time where Ma's native land are becoming increasingly hungry for American made movies. Alibaba has already invested in the latest Mission impossible sequel sowing the billionaires's interest in entertainment.

Ma has stressed that Chinese consumers are increasingly demanding for premium global content and he is ready to fill in in the market.

Ma and Spielberg both appeared at a launch event in Beijing to announce their new collaboration.
As part of the agreement, Alibaba will name a member to the board of Amblin, of which Spielberg is chairman.

Amblin is a consortium of media giants that includes DreamWorks Studios, Participant Media, Reliance Group, and Entertainment One.


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