Alibaba and Tencent join Bona Film's $1b buyout

The Chinese internet giants have teamed up with other investors in the take-private deal, broadening their exposure to China's booming film industry.

Alibaba and Tencent join Bona Film's $1b buyout

Chinese internet giants Alibaba and Tencent have teamed up with a group of investors to take Bona Film Group private in a deal valuing the first US-listed Chinese film company at about $1 billion.

Hong Kong-listed Alibaba Pictures, a wholly owned unit of Alibaba, said late on Tuesday that it will invest $86 million in Bona Film and own about 10% of the firm following the buyout. Rival Tencent, acting through subsidiary Willow...

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