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Alibaba Pictures to Pay $167 Million for Damai, Chinese Live Events Firm, Signaling Group’s Entertainment Reshuffle

Summary by Ground News
Alibaba Pictures, the separately-listed film investment and distribution unit of China's tech giant Alibaba, is to buy Damai. The target company is a major provider of live entertainment in the country that is currently controlled by the Alibaba parent company. The transaction is valued at $167 million, and will be paid for by the issue of new Alibaba Pictures shares.

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VarietyVariety
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Alibaba Pictures to Pay $167 Million for Damai, Chinese Live Events Firm, Signaling Group’s Entertainment Reshuffle

Alibaba Pictures, the separately-listed film investment and distribution unit of China’s tech giant Alibaba behind recent box office hit “Lost in the Stars,” is to buy Damai. The target company is a major provider of live entertainment in the country that is currently controlled by the Alibaba parent company. The transaction is valued at $167 […]

·Los Angeles, United States
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Variety broke the news in Los Angeles, United States on Tuesday, September 19, 2023.
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