Alibaba is reportedly intent on using part of the $25 billion it earned on its record-breaking IPO to acquire Rachesky’s stake. MHR manages about $6 billion in capital.
Lionsgate and Alibaba recently announced a partnership to bring an online streaming service to China. The two will bring several prominent Lionsgate films such as the Twilight series to the service.
LGF stock is up 5.1% Friday afternoon. BABA stock is up 2.7%.