Alibaba Pictures, Amblin to co-produce films for global, Chinese audiences

Steven Spielberg's Amblin Partners and Alibaba Pictures Group Ltd, the film studio unit of Chinese e-commerce giant Alibaba Group Holding Ltd, said on Sunday they will co-produce and finance films for global and Chinese audiences. Under the terms of their partnership, Alibaba Pictures will also acquire a minority stake in Amblin Partners, which is chaired by Spielberg, the award-winning U.S. movie director and producer.