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Alibaba To Sell Stake In State-Owned Broadcaster

Mango, which runs a popular video-streaming service, is among Alibaba’s largest state-owned media assets. The ecommerce giant in China bought more than 93 million shares of Mango in December 2020 for 6.2 billion yuan, equivalent to $959 million, according to the report. Mango TV is the most-watched network nationwide after China Central Television. In March, The Wall Street Journal reported China’s government asked Alibaba to shed its media assets, "as officials grew concerned about the ecommerce behemoth’s sway over public opinion in the country."

Read the whole story at Wall Street Journal »

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