Steven Spielberg inks deal with Jack Ma's Alibaba Group

Steven Spielberg inks deal with Jack Ma's Alibaba Group

Steven Spielberg and Jack Ma at the press conference.

10 Oct - Steven Spielberg and China's richest man, Jack Ma, recently appeared at a press conference to announce that the latter's Alibaba Group is acquiring a minority stake in Amblin Partners, a company chaired by Spielberg.

The investment is part of a comprehensive strategic partnership agreement between the two, according to Bloomberg.

Through the partnership, both companies stated that they will work together not only on production, but also marketing and distribution both globally and in China.

Alibaba will also have its own representative in Amblin Partners - a content creation company founded by DreamWorks Studios, Participant Media, Reliance Entertainment and Entertainment One.

"Our vision is to inspire and entertain audience through creativity and imagination both here and around the world," said Spielberg.

Up to six to nine movies per year are planned as part of the collaboration, though no titles have been revealed at the moment.

(Photo source: Livemint)

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