Alibaba to acquire a 5.26% stake in Mango TV for $946m.

Alibaba, a provider of online and mobile commerce businesses, agreed to acquire a 5.26% stake in Mango TV, a broadcasting company, for $946m. The deal makes Alibaba the second-largest shareholder in the latter firm, and marks the first major investment by a privately owned tech firm in one of China’s top state-owned online broadcasters.