Alibaba To Acquire 4% Of Korea’s S.M. Entertainment For $30M

Alibaba Group Holding Ltd. has agreed to acquire approximately 4% of South Korea’s entertainment agency S.M. Entertainment for around US$30 million via new share subscriptions, says a company statement. The investment is part of a broader strategic partnership between the two parties. Alibaba's music division, Ali Music Group, and S.M. Entertainment plan to work together […]


Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video Internet podcasts covering important investment news and financial events in China. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.

Read the original article: China Money Network