Amblin and Alibaba: Hollywood Continues Its Journey to the East

On October 9, 2016, China's e-commerce-giant Alibaba (lead by Jack Ma, left above) and Hollywood's Amblin (lead by Steven Spielberg, right above) announced a partnership to co-produce and finance films for global and Chinese audiences. 

According to The Hollywood Reporter: "Under the terms of the deal, Alibaba Pictures will acquire a minority equity stake in Amblin with an Alibaba Pictures representative joining Amblin's board."

As a result of this new deal, the Spielberg-directed The BFG - which was a crushing box office disappointment in the US, when it opened to under $19m over the July 4th, 2016 holiday weekend - will get a splashier Oct. 14 release in China.

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