Alibaba to acquire a 60% stake in Yinhe Kuyu Media for $57m.

Alibaba agreed to acquire a 60% stake in Yinhe Kuyu Media, which focuses on producing short videos, films and web TV dramas, for $57m. Alibaba Pictures said that the integration of the variety production business of YinheKuyu Media will help build a variety program production team, so as to build the production capacity of Alibaba Pictures ‘s “film + drama + variety” full category projects.