BEIJING: In a major reorganisation of the company's entertainment assets, Alibaba Holdings Group Ltd. has announced the formation of a new digital media group along with plans for a 10bil yuan (RM6.2bil) fund for new projects.
The move marks a total consolidation of Alibaba's media businesses, including Youku Tudou Inc., UCWeb Inc. and Alibaba Pictures Group Ltd. as well as the company's sports, games, literature, music and digital entertainment divisions.
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