Alibaba partners with Paramount to promote latest 'Mission Impossible' film in China
Alibaba Pictures Group is making its first Hollywood movie investment and partnering with Paramount Pictures to promote the studio's latest Mission: Impossible installment in China.
The film unit of Alibaba Group Holding Ltd will collaborate with Viacom subsidiary Paramount in online ticketing, promotion and merchandising for Mission: Impossible - Rogue Nation in China, it said in a statement on Wednesday. It did not say how much the tie-up would cost.
The movie, starring Tom Cruise, is due in theatres on July 31, according to Paramount's website. Hollywood movie releases are usually delayed in China.
Alibaba Pictures, previously known as ChinaVision Media Group, raised nearly 5 billion yuan ($805.5 million) in 2014 from a share offer that put Alibaba in control of the company. Earlier this month, it agreed to sell 4.20 billion new shares at HK$2.9 (US$0.37) each to independent investors to boost its share capital.
In January, Alibaba Pictures unveiled its first movie project under its new ownership, a romance to be produced by acclaimed Hong Kong director Wong Kar-wai.