Technology

Alibaba Seeks to Exit Media Firm After Beijing’s Scrutiny

Alibaba Seeks to Exit Media Firm After Beijing’s Scrutiny

Alibaba Group Holding Ltd. is seeking to sell its entire stake in a local television network after the Chinese government’s scrutiny over media and the technology industry intensified. An Alibaba investment arm plans to sell its 5.01% stake in Mango Excellent Media Co., a TV shopping and entertainment network based in the central province of Hunan, Mango said in a filing late Thursday.

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