Alibaba Teams Up With Lionsgate (LGF) in Bid to Be Netflix of China

Lions Gate movies and show will stream in China

   

Alibaba Teams Up With Lionsgate (LGF) in Bid to Be Netflix of China

Lions Gate Entertainment (LGF) has teamed up with Alibaba to provide shows and movies for a streaming service similar to Netflix (NFLX) in China.

Alibaba185 Alibaba Teams Up With Lionsgate (LGF) in Bid to Be Netflix of ChinaExact details of the deal between the two companies is unknown. However, it has been confirmed that Alibaba customer with a set-top box will be able to stream several movies and shows from Lions Gate. This will include films such as Twilight and The Hunger Games, as well as Mad Men, CBC News notes.

While the details of the deal between Lions Gate and Alibaba are being kept quiet, one person who claims to be close to the matter told Bloomberg that the two companies aren’t investing in each other.

“The combination of Alibaba’s tremendous knowledge of the Chinese market and Lionsgate’s content leadership provide this new partnership with unique competitive advantages, and we look forward to continuing our close collaboration with the Alibaba team,” Brian Goldsmith, COO of Lions Gate, told CBC News.

LGF shares were up 4% as of Tuesday evening.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/07/alibaba-lionsgate-lgf-netflix-nflx-stock/.

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