Alibaba Pictures to pay $57m for majority stake in mainland entertainment firm Yinhekuyu

Alibaba Pictures to pay $57m for majority stake in mainland entertainment firm Yinhekuyu

Photographer: Gilles Sabrie/Bloomberg

Alibaba Pictures, a Chinese filmmaker owned by e-commerce giant Alibaba Group, has entered into an agreement to pay 400 million yuan ($57 million) for a majority stake in Tianjin Yinhekuyu, an online entertainment content producer in the mainland.