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Alibaba Eyeing 37 Percent Stake in Lionsgate (New York Post)
After getting a taste of The Hunger Games, Alibaba billionaire Jack Ma has an appetite for more. The Chinese Internet tycoon is hungering after Mark Rachesky’s 37.4 percent of Lionsgate, the studio behind the blockbuster film franchise. THR Hedge fund manager Rachesky, the chairman of Lionsgate and its biggest shareholder, is looking to unload his influential stake in the mini-studio. Variety A sale of his stake to Alibaba could be announced in November or perhaps sooner. Lionsgate and Alibaba reps declined to comment on the report. Rachesky and reps for Rachesky’s MHR Fund Management did not respond to requests for comment. New York-based MHR manages about $6 billion of capital. Deadline Hollywood Ma will be in Hollywood this week to talk with different studios. He already knows Lionsgate: Alibaba partnered with the studio this summer when it launched its Chinese subscription streaming service, Lionsgate Entertainment World, which features the studio’s movies and TV shows. Adweek China is the No. 2 film market in the world, making the convenience of online subscription content a natural fit for Alibaba’s e-commerce network. However, China is not a straightforward place to do business. Last month, Chinese regulators announced they would cap the amount of foreign TV programs local providers could stream to online subscribers.