Alibaba Cleared to Buy $946 Million Stake in Mango TV

Rebecca Davis editorAlibaba Group announced Tuesday that it will close down its streaming platform Xiami Music on Feb. 5, as it struggles to keep up with competitors Tencent Music and NetEase in China’s competitive digital music sector.Xiami Music will cease operations due to “business development-related adjustments,” pivoting to become more of a music industry service provider, the company said in an official statement posted to social media, thanking its fans.

Chinese billionaire Jack Ma, famous for hislove of the spotlight, hasn't been seen in public in over two months following Beijing's aggressive crackdown on his Alibaba business empire. The celebrated entrepreneur was slated to appear as a star judge on the season finale of Africa's Business Heroes, a reality TV show created by his own philanthropic organization.

Questions are growing about the whereabouts of Jack Ma, the billionaire founder of Chinese tech giant Alibaba, after he failed to appear on the finale of an African business TV show he created.

Thanksgiving and is also now available to rent on premium video on demand.Disney and Pixar’s “Soul,” which skipped U.S. theaters and is available for free for Disney+ subscribers, added $16.5 million internationally — a 114% increase from its opening in the same markets last weekend.

After crossing $100 million worldwide on New Year’s Eve, Warner Bros.’ “Wonder Woman 1984” reached $118 million on the first weekend of 2021. But the pandemic is making its presence felt as domestic grosses fell 67% from the film’s $16.7 million opening weekend.The DC blockbuster took in $15.6 million worldwide this weekend, with $5.5 million grossed in the U.S.

Cops are on the hunt for a maniac motorist who allegedly tried to mow a man down after mounting the pavement. The victim was left injured after becoming embroiled in the drama in Greenock this afternoon.

James McClain Elon Musk is officially no longer a Los Angeles homeowner. The Tesla and SpaceX tycoon began 2020 with six Bel Air houses to his name, but in June he sold the largest of them for $29 million to Chinese billionaire William Ding.

The superhero sequel “Wonder Woman 1984” has earned an estimated $38.5 million in ticket sales from international theaters, Warner Bros. said Sunday.

Patrick Frater Asia Bureau ChiefChinese authorities have begun an anti-monopoly investigation into Alibaba, the country’s second largest private sector company. Alibaba has interests that range from e-commerce to cloud computing and movies.State media announced on Thursday morning local time that the probe is being conducted by the State Administration for Market Regulation.Only weeks earlier the same regulator warned that it was concerned by the country’s tech giants.

Brent Lang Executive Editor of Film and MediaDiana Prince may be able to best Cheetah, but she’s no match for a global pandemic.“Wonder Woman 1984” opened to a less than heroic $18.8 million in China over the weekend and a disappointing $38.5 million overseas.

Patrick Frater Asia Bureau ChiefFrench media conglomerate Vivendi said on Friday that a consortium led by China’s Tencent will exercise its option to acquire a further 10% stake in Universal Music Group, raising its holding to 20%.A Tencent consortium completed its deal to buy 10% of UMG in March this year. It retained an option running until January 2021 to double its stake, through a second purchase on the same valuation.

Patrick Frater Asia Bureau ChiefSingapore-based mini-conglomerate GHY Culture Media made its debut on the local stock exchange on Friday. In early trading its shares traded up by more than 6%.The company was founded and remains headed by screenwriter and producer Guo Jingyu and has significant mainland Chinese connections.

Brian Steinberg Senior TV EditorSamantha Bee will have another year to vent to her heart’s delight on her TBS program, “Full Frontal.”The WarnerMedia-backed network will renew Bee’s satire-and-talk show for a sixth season, which will debut on Wednesday, January 13 at 10:30 p.m. eastern.“It’s a huge honor to get to keep doing this crazy smart and silly show for a sixth season,” said Bee, in a prepared statement.

Watchmen star Yahya Abdul-Mateen II has landed a new role in the upcoming Michael Bay film Ambulance.The actor, who has recently appeared in The Trial Of The Chicago 7 and will be seen next year in The Matrix 4, is set to star in the Bay thriller alongside Jake Gyllenhaal.While plot details are scarce, Ambulance is based off a 2005 film about two brothers who run from the police, and steal an ambulance without knowing it contains a female paramedic and a patient in a critical condition.Eiza

Patrick Frater Asia Bureau ChiefChinese regulators said on Monday that they would probe the proposed merger of game live-streaming companies DouYu and Huya, in relation to the deal’s possible violation of monopoly laws.The same day, it emerged that Alibaba had been fined for not properly reporting an increased share stake in retail chain Intime.

Patrick Frater Asia Bureau ChiefChinese action comedy “Bath Buddy” topped the mainland China box office over the weekend with a $28.1 million opening splash. The box office performance came despite the film being in hot water behind the scenes.The Yi Zhenxing-directed film tells the improbable tale of a rich kid who loses his memory and instead ends up working in a bath-spa.

Refresh for more analysis, chart, etc. Even in a normal, healthy economy, the major studios are typically skittish about opening big movies before Christmas with many busy with holiday activities, so it comes as no surprise during a pandemic where just north of 40% of all 5,500 domestic movie theaters are open that there wouldn’t be any new wide openings this weekend.