Chinese tech giants Alibaba Group Holding and Tencent Holdings Ltd have invested in television show producer Shanghai Canxing Cultural and Broadcast Company Ltd., according to a security filing. Alibaba and Tencent invested RMB200 million (US$29 million) and RMB160 million (US$23 million) respectively, gaining 1.17% and 0.94% stake of the company. Tencent invested through its subsidiary Tibet Qiming Music Ltd., whose shareholders are Yang Qihu, general manager of Tencent Music, and Hu Min, CFO at Tencent Music. Canxing was co-founded by …

Alibaba, Tencent Invest $53M In Chinese TV Show Producer Canxing appeared first on China Money Network.