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IPFS News Link • China

Alibaba to Invest in Paramount's `Star Trek,' `Ninja Turtles'

• http://www.bloomberg.com

Alibaba Pictures Group Ltd. agreed to invest in two Paramount Pictures movies as the Chinese company extends its foray into Hollywood.

The unit of e-commerce giant Alibaba Group Holding Ltd. will invest in "Teenage Mutant Ninja Turtles: Out of the Shadows" and "Star Trek Beyond," which will be released in North America this summer, according to a statement on Monday. Financial terms weren't disclosed.

The deal is the latest example of Chinese funds flowing into Hollywood and builds on Alibaba's relationship with the studio -- the Chinese company invested in last year's "Mission: Impossible – Rogue Nation." The agreement also comes at a time that Paramount's parent, Viacom Inc., is looking to sell a stake in the studio.


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