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Jahnavi - 1 Savio D'Souza - 1
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☆ Alibaba exploring options for video platforms Youku, Tudou -Bloomberg News
  + stars: | 2023-07-04 | by ( ) www.reuters.com   time to read: 1 min
July 4 (Reuters) - Alibaba Group Holding (9988.HK) is exploring options for its video streaming platforms Youku and Tudou, Bloomberg News reported on Tuesday, citing people familiar with the matter. One of the options under consideration is to inject the assets into Alibaba Pictures Group Ltd (1060.HK) and bolster the scope of the Hong Kong-listed company, Bloomberg reported. Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.
Persons: Jahnavi, Savio D'Souza Organizations: Bloomberg, Alibaba Pictures Group, HK, Thomson Locations: HK, Tudou, Hong Kong, Bengaluru
☆ Alibaba, Tencent 'golden shares': China is pulling different strings to control Big Tech
  + stars: | 2023-01-27 | by ( Laura He | ) edition.cnn.com   time to read: +6 min
According to a person familiar with the matter, the Chinese government is also discussing taking a similar stake in a mainland Chinese subsidiary of Tencent (TCEHY), the group that includes WeChat and a vast gaming business. The headquarters of the Cyberspace Administration of China in Beijing, China on July 16, 2021. “Golden shares” give their owners, usually governments, some level of control over companies, often those that were previously state-owned. In April 2021, a government entity acquired a 1% stake in a Beijing subsidiary of TikTok’s parent company Bytedance, according to Qichacha. The Communist Party may be easing off on fines and penalties, but the “golden shares” approach seeks the same end, which is “control and tight oversight,” said Capri.
☆ China tightens media control with tiny stakes in two Alibaba units
  + stars: | 2023-01-19 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +7 min
Sopa Images | Lightrocket | Getty ImagesBEIJING — State-backed entities have taken tiny stakes in parts of two Alibaba subsidiaries that oversee a video platform and web browser. The state-backed stakes reflect a progression of government directives over the last decade to increase control of media in China. "So far most of the stakes announced (including in other Chinese companies) seem to be highly concentrated on media companies and media subsidiaries." watch nowSince 2020, business records show state-backed entities have taken 1% stakes in popular social media or short-video apps Weibo , ByteDance's Douyin and Kuaishou . A provincial state media group completed a 1% investment in September, leaving Alibaba's media arm with 99% ownership.
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